Tools and equipments used in production are:
a. natural resources.
b. entrepreneurial resources.
c. human capital.
d. capital resources.
e. labor resources.
d
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When there is a positive externality in a free market, too much of the good is produced and consumed
Indicate whether the statement is true or false
Productivity growth is the main cause of rising living standards
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true about the Marxist's argument in favor of an egalitarian income distribution? a. Aside from the very rich, people are disposed toward income equality. b. Private property originates from theft and it is this property that creates unequal distribution of income
c. Government (welfare) and private charity doesn't work. d. Human beings are imperfect, and it is the unequal distribution of income that reflects this imperfection. e. Although income equality does not support the most efficient use of economy's resources, it's worth it anyway.
The statement that the U.S. government should increase carbon taxes to reduce carbon emissions that cause global warming is? ___________.
A. a positive? statement, since most studies have found that global warming does exist and most economists do believe that carbon taxes are an effective way to control emissions. B. neither a positive nor a normative? statement, since it discusses the broad topic of global warming instead of a specific issue within the country. C. a normative? statement, since it is an incorrect statement. Most economists believe that carbon taxes should be lowered to control emissions. D. a normative? statement, since it describes what ought to be done and is therefore not possible to confirm with data.