Which of the following is not an example of rent-seeking behavior?
A) competition for subsidies
B) competition for the exclusive right to import a product
C) lobbying the government to impose tariffs on certain imported products
D) engaging in aggressive advertising that slams a competitor's product
D
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Suppose u = those adults who are unemployed and seeking work; e = those adults who are employed; and NLF = those adults not in the labor force. Which expression would equal the BLS definition of the unemployment rate?
a. u / (e + NLF) b. u / e c. u / (u + e) d. u / (e + NLF) e. u / (u + e ? NLF)
If the owner of a nonrenewable resource expects his profits to be high in future, he will abstain from resource extraction in the present period
a. True b. False Indicate whether the statement is true or false
Suppose a consumer's nominal income is $50,000 and the cost-of-living index is 1.3. The consumer's real income is:
A. $50,000. B. $65,000. C. $57,500. D. $38,462
Suppose that indifference curve I1 lies to the left of indifference curve I2. We can conclude that
A. all points along indifference curve I1 will correspond to higher utility than points along indifference curve I2. B. some, but not all, points on indifference curve I1 will correspond to lower utility than points along indifference curve I2. C. all points along indifference curve I1 will correspond to lower utility than points along indifference curve I2. D. some, but not all, points on indifference curve I1 will correspond to higher utility than points along indifference curve I2.