Gary usually does not donate for charity. However, he donated money for an environmental awareness campaign launched by his friend. This is an example of ________
A) rationalism
B) pure altruism
C) impure altruism
D) liberalism
C
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In the economic way of thinking, bald eagles are a scarce good. Thus,
A) the bald eagle population can be maintained at no cost. B) the bald eagle population should be maintained at any cost. C) there are substitutes for bald eagles. D) there are no substitutes for bald eagles. E) economists don't like bald eagles.
Richard Causey, former chief accounting officer for Enron, pleaded guilty to falsely reported costs for Enron that were ________ than they actually were, resulting in reported accounting profits for Enron that were ________ than their actual level
The financial statements were falsified to mislead investors about the profitability of the firm. A) lower; higher B) lower; lower C) higher; lower D) higher; higher
Sam Edison obtains a patent on his new invention: trinoculars. In the long run,
a. he can earn only a normal profit b. he may suffer an economic loss and stop producing c. his monopoly power guarantees him a positive economic profit d. he will achieve productive efficiency e. he will achieve allocative efficiency
When the price of a normal good falls, consumers buy a larger quantity because of the ________ effect and the ________ effect
A) substitution; income B) normal; inferior C) substitute; complement D) supply; demand