The term “laissez-faire” was given to a system of free markets by
A. twentieth-century American economists.
B. a seventeenth-century Scottish economist.
C. eighteenth-century French economists.
D. nineteenth-century Italian economists.
Answer: C
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George purchased a $10,000 bond that pays a nominal interest rate of 8 percent per year. George's marginal income tax rate is 28 percent. Over the last year, inflation was 3 percent
Find George's before-tax real interest rate and his after-tax real interest rate.
If 6 workers can wash 42 cars a day and 7 workers can wash 50 cars a day, then the marginal product of the 7th worker equals
A) 7.1 cars a day. B) 7 cars a day. C) 42 cars a day. D) 50 cars a day. E) 8 cars a day.
Refer to Figure 3-1. A decrease population would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
Externalities get their name from the fact that they are:
a. b and d. b. unintended. c. short lived. d. outside of decisions. e. outside of marketplace.