When the economy is in long-run equilibrium, there will be
A) no unemployment. B) cyclical unemployment only.
C) frictional and structural unemployment. D) cyclical and seasonal unemployment.
C
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Refer to Common Property I. Suppose the common property becomes privately owned. The owner behaves competitively and charges people an entrance fee for the right to use the property. The fee will be
The following questions refer to the accompanying diagram, which shows the benefits and costs associated with the use of a common property.
a. P1.
b. P2.
c. P2 - P1.
d. zero.
Which of the following is NOT true about dead capital?
A) Companies will be less likely to want to invest when a country has a lot of dead capital. B) Dead capital can inhibit economic growth. C) Dead capital will lead to higher investment returns. D) Dead capital can lead to a situation where resources are not efficiently employed.
Most towns were initially established at locations with
(a) an excellent harbor and river stretching into the hinterland. (b) an excellent harbor and flat land so roads could be easily built into the hinterlands. (c) in mountainous areas which provided better protection against Indians. (d) extensive forests to provide fuel and lumber.
A normative economic statement can be proven either true or false
a. True b. False Indicate whether the statement is true or false