Five people want to have a lighted garden built at the entrance to their neighborhood. The difficulties they experience in getting one another to commit to paying for the garden are best described as
A) property rights.
B) transactions costs.
C) negative externalities.
D) rivalry.
B
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A recession is a period of time in which the total output of the economy falls.
Answer the following statement true (T) or false (F)
Why does the substitution bias cause the consumer price index to overstate inflation and the cost of living? Why does the increase in quality bias cause the consumer price index to overstate inflation and the cost of living?
What will be an ideal response?
Which of the following reasons will most likely explain the occurrence of discrimination that is not related to personal prejudice?
a. A desire to avoid associating with certain groups of people b. A lack of communication skills of workers seeking jobs c. A lack of information d. A lack of proper technical expertise e. Too many people applying for the same job
A decrease in consumer spending can be expected to shift the:
A. Aggregate expenditures curve downward and the aggregate demand curve leftward B. Aggregate expenditures curve upward and the aggregate demand curve leftward C. Aggregate expenditures curve downward and the aggregate demand curve rightward D. Aggregate expenditures curve upward and the aggregate demand curve rightward