Economics assumes people
A) tend to compete more in markets than they do in government.
B) tend to cooperate more in markets than they do in government.
C) try to advance their own projects in market and government processes.
D) try to pursue the public interest but find over time that only private interests matter.
C
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The question "What are you going to do with that major?" implicitly questions
A) how much you learn in that major. B) whether the major should be offered on campus. C) how much the market values the human capital developed in the major. D) western bias.
Which movie is an allegory about late 19th century monetary policy?
a. The Wizard of Oz b. Mary Poppins c. It's a Wonderful Life d. Trading Places
Controlling pollution by setting the same maximum allowable amount of pollution for each polluter, and making specific rules about the way it must be reduced, is called
A. tax-and-fine regulation. B. command-and-control regulation. C. the common-law approach. D. cap-and-trade regulation.
GDP tends to overstate economic well-being because it takes into account:
A. All of the illegal activities conducted by organized crime in the economy B. Spending on intermediate goods that are used to produce final goods C. Total spending to deal with the adverse health effects of some products D. The personal labor time that car owners spend working on car repairs and maintenance of their vehicles