The Economic Freedom Index includes which of the following measures of economic freedom within a nation?
A) Levels of economic regulation
B) Freedom of pricing
C) Stability of monetary policy
D) Taxation levels
E) All of the above.
E
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Common property ownership most likely leads to
A) an efficient allocation of resources. B) production at a rate at which price is less than social cost. C) a decrease of externalities. D) an increase in pollution.
Frictional unemployment occurs when: a. a recent graduate is searching for his first job
b. a ski instructor is looking for a part-time job during summer. c. an engineer is looking for a new job after a recession. d. a stenographer is looking for a new job as his skills have become obsolete in the current labor market.
Which of the following is most likely to have a negative income elasticity of demand?
a. Overseas vacations b. Fancy restaurant meals c. Day-old bakery products at a discount d. New cars
If you eat at a sushi restaurant that charges $20 for its all-you-can-eat sushi special, then the marginal cost of your 10th piece of sushi is
A. zero. B. $2. C. $200. D. $2,000.