The statement "There is no accounting for taste" implies
A) individuals all have the same preferences.
B) individuals all have different cardinal preferences but the same ordinal preferences.
C) individuals all have different ordinal preferences but the same cardinal preferences.
D) individuals all have different ordinal and cardinal preferences.
D
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Empirical studies indicate that the maximum amount of air pollution occurs ________ levels of real GDP per person.
A. at the lowest B. at "middle-income" C. equally at all D. at the highest
Identify and briefly explain two economic incentives that would encourage firms to research and implement “design for recycling” programs.
What will be an ideal response?
If Californians increase their purchases of Italian wine, assuming all else remains constant, this will ________ of the United States
A) decrease the balance of payments B) increase the current account balance C) increase net exports D) decrease the balance of trade E) decrease the trade deficit
Assume a government likes a particular equilibrium along the contract curve. It can achieve that equilibrium through competition and income redistribution
What will be an ideal response?