Which of the following move the handling of a common property resource closest to efficiency?
A) ensuring that the sellers of the resource are perfectly competitive
B) ensuring that the seller of the resource is a monopolist
C) banning the sale of the resource
D) banning the use of the resource
E) assigning a usage fee for access to the resource
B
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A person 16 years or older who does not work, but is actively looking for work, is officially classified as:
A. chronically unemployed. B. employed. C. out of the labor force. D. unemployed.
Increasing the capital available to the workforce, holding other factors constant, tends to ________ total output while ________ labor productivity.
A. decrease; increasing B. increase; decreasing C. increase; not changing D. increase; increasing
Which of the following provides an important source for data on colonial wealth?
a. census records b. newspapers c. records of charitable contributions d. probate records
When monetary and fiscal policymakers expand aggregate demand, which of the following costs is incurred in the short run?
a. Short-run aggregate supply decreases. b. The natural rate of unemployment increases. c. The price level increases more rapidly. d. The money supply increases less rapidly.