Which of the following best explains why you are more likely to see a poor person than a wealthy person picking up aluminum cans to sell?
A. The opportunity cost of picking up cans is higher for wealthy people than for poor people.
B. Wealthy people are more aware of diseases transmitted through litter than are poor people.
C. Wealthy people are more concerned about their public image than are poor people.
D. Wealthy people do not care about the environment.
Answer: A
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Which of the following is most likely produced in a monopolistically competitive market?
a. restaurant meals b. computer chips c. firewood d. motorcycles e. soft drink
Judging from the production possibilities curve, the production of 8 units of housing and 60 units of food would be _____.
a. efficient
b. presently unattainable
c. inefficient
d. the best combination
The sticky price explanation of the short-run aggregate supply curve says that when the average price level rises,
A. because of adjustment costs associated with changing prices, some firms will not raise their prices immediately which may temporarily boost their sales. B. firms will raise their output prices by more than the increase in the average price level to make up for the shortfall in sales. C. consumers are unwilling to pay higher prices resulting in a decrease in aggregate demand. D. some firms will immediately pass the higher prices to consumers.
Today the primary distinction between direct and indirect finance is in:
A. direct finance the asset holder has a claim on a financial institution while in indirect finance the asset holder has a direct claim on the borrower. B. indirect finance the asset holder has a claim on the government while in direct finance the asset holder has a direct claim on a private sector corporation. C. indirect finance the lender has a direct claim on the borrower while in direct finance the lender has a claim on a financial institution. D. direct finance the asset holder has a direct claim on the borrower while in indirect finance the asset holder has a claim on a financial institution.