Which of the following examples shows a resource being used?
a. Japan exports cameras.
b. Wilson produces tennis racquets.
c. Jessica earns $50 dollars.
d. Adam adds vanilla to the cookie dough.
d. Adam adds vanilla to the cookie dough.
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Free riding is primarily a characteristic of pure private goods
Indicate whether the statement is true or false
An import quota restricts ________ and is designed to protect domestic ________
A) exports; consumers B) exports; producers C) imports; consumers D) imports; producers
Which of the following are reasons why Social Security is compulsory?
a. A pay-as-you-go system needs new contributors to maintain solvency. b. A pay-as-you go system cannot let older individuals opt out of benefits. c. The adverse selection problem. d. all of the above e. a and c
When we believe the best result will come from the decision we have made, we are being:
A. gullible. B. short-sighted. C. rational. D. considerate.