The protection of private property makes it so that
A. people can wait for others to work hard and then try to take it.
B. people need neither immediately consume nor spend energy protecting the proceeds from their hard work.
C. people must protect the proceeds of their hard work.
D. people must consume the proceeds of their hard work immediately.
Answer: B
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Which of the following lags reduces the effectiveness of active policy?
a. Preliminary lag b. Accounting lag c. Self-correction lag d. Recognition lag e. Execution lag
"After every fall election, the weather starts to turn cold, therefore elections cause cold weather." This statement
a. confuses positive and normative analysis. b. commits the fallacy of composition. c. fails to recognize that association is not causation. d. confuses macroeconomics with microeconomics.
An American retailer purchased 100 pairs of shoes from a company in Mexico in the second quarter of 2016 but does not sell them to a consumer until the third quarter of 2016 . In which quarter(s) does(do) the value of the shoes add to U.S. GDP?
a. the second and third quarters b. the second quarter but not the third quarter c. the third but not the second quarter d. neither the second nor the third quarter
The figure below shows free public schooling leading to less education.
A. True
B. False
C. Uncertain