Types of rationing:
What will be an ideal response?
-First come first serve= inefficient
-Subjective= arbitrary
-Price=efficient
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Which of the following would increase the consumption component of U.S. GDP?
A. A restaurant in Denver purchases a bottle of California wine to include on its wine list. B. The U.S. government buys a bottle of California wine to serve at a state dinner in the White House. C. A person in Paris purchases a bottle of California wine. D. You purchase a bottle of California wine.
Despite the Obama administration's support of the Trans-Pacific Partnership (TPP), the AFL-CIO labor union has argued that the TPP will not
A) protect the environment. B) ensure safe imports. C) create jobs. D) all of the above
Assuming that pollution cannot be removed from the environment at zero cost, the optimal level of pollution
A) will be zero. B) will be negative. C) will be positive. D) cannot be determined.
Saltbricks will be considered as money if they are generally acceptable to sellers in exchange for goods and services
a. True b. False Indicate whether the statement is true or false