Father says, "Earn an A on your next report card and I'll help you buy a car." An economist would say that this parent is providing his child a(n)
A. study disincentive.
B. bribe.
C. reason to slack off and not worry about her grades.
D. incentive.
Answer: D
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Supply-side economists argue that changes in tax rates cause changes in
A) labor supply. B) the full-employment level of output. C) saving. D) all of the above.
The Jerry-Berry Ice Cream Shoppe's total cost schedule is in the above table. Based on the table, which of the following is correct?
A) The total fixed cost is $1. B) The average fixed cost of 1 gallon is $1.00. C) The average variable cost of 2 gallons of ice cream is $1.00 per gallon. D) Only answers A and B are correct. E) Answers A, B, and C are correct.
Part of the reason for the success of Facebook is:
A. the avoidance of a positive externality. b. a strong negative network externality. C. a strong positive network externality. D. the avoidance of a negative externality.
Refer to the information provided in Figure 20.2 below to answer the question(s) that follow.
Figure 20.2Refer to Figure 20.2. the U.S. has
A. no comparative advantage in producing either cars or trucks. B. an absolute advantage in producing trucks. C. a comparative advantage in producing trucks. D. a comparative advantage in producing cars.