Which one of the following resources is not underemployed?
A. The use of Manhattan Island in New York City for growing corn.
B. The use of farmland in the Iowa and Illinois corn belt for buildings to do stock market research.
C. An automobile factory that is shut down for two months to be retooled for a model change.
D. Limiting all men to the fields of school teaching and social work.
C. An automobile factory that is shut down for two months to be retooled for a model change.
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________ is defined as the value of a household's assets minus the value of its liabilities
A) Personal household consumption B) Planned household investment C) Household income D) Household wealth
Charitable donations to the Red Cross
A) can be explained by the rational ignorance theory. B) can be explained by the rational self-interest theory. C) cannot be explained by the rational self-interest theory. D) prove that there is no scarcity in the United States.
If Uber is required to start paying the value added tax (VAT) in Great Britain, this will have the potential to ________ the equilibrium price in this market and, therefore, ________ efficiency
A) raise; increase B) raise; decrease C) lower; increase D) lower; decrease
Which of the following is motivated by an equity concern?
A) Some U.S. colleges have cut back on merit scholarships since these programs siphon money from need-based programs, thus harming lower-income students with greater financial need. B) Following the removal of subsidies in urban water use, household demand for water decreased quite significantly in Bogor, Indonesia. C) In November 2003, the Federal Communications Commission implemented the "local number portability" rule which gives cell phone customers the option of keeping their number when they switch carriers within the same geographic region. D) The United States protects intellectual property rights, allowing inventors to prevent others from using their inventions without payment.