Which of the following is NOT a protected title vii class?
a. race
b. age
c. sexual preference
d. religion
Ans: c. sexual preference
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Not buying junk food while doing the weekly shopping and forcing an extra trip to the store to acquire it is an example of:
A. increasing the cost of a vice. B. a commitment device. C. how people compensate for time-inconsistent decisions. D. All of these are true.
If the typical firm in a perfectly competitive market is earning positive economic profits then which of the following would be expected to happen?
a. Firms will exit the market. b. New firms will enter the market. c. There will be neither entry nor exit in this market. d. There will soon be a depression in the market.
In a _____, the state owns all means of production
A. mixed economy B. planned economy C. market economy D. totalitarian state
Any combination of two goods that lies within the production possibilities frontier
A) is currently impossible to produce. B) is currently possible to produce. C) represents a more efficient combination of output than anything lying beyond the frontier. D) represents a more efficient combination of output than anything lying on the frontier.