It's not unusual for strangers driving through a small town to find a gas station more quickly than people driving through a major city center
According to the economic way of thinking, gas stations in city centers appear few and far between because A) big cities are just plain confusing to out-of-towners.
B) the real estate space available for gas stations has more valuable alternative uses.
C) the opportunity cost of placing additional gas stations in city centers is too low.
D) the owner of gas stations would rather have people drive further distances and thereby use more gasoline.
B
You might also like to view...
Which of the following is NOT a description of indirect finance?
A) You take out a student loan from your bank. B) You borrow $500 from your best friend. C) You buy shares in a mutual fund. D) An insurance company lends funds to IBM.
Which of the following is NOT a focus of the study of economics?
A) how individual preferences are formed B) unemployment C) inflation D) prices in particular markets
The M1 measure of money is suggested by the ________ approach to measuring money
A) investment B) liquidity C) transactions D) security
GDP per capita is a relatively good measurement of:
a. the distribution of income. b. purchasing power. c. household production. d. the standard of living.