You decide to go to LEGOLAND after you visit Disneyworld in Orlando. The cost of going to LEGOLAND after you visit Disneyworld is the ________ cost of getting from Disneyworld to LEGOLAND.
A. opportunity
B. efficiency
C. marginal time and money
D. profit maximizing
Answer: C
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If the government wanted a tax to raise a great deal of revenue but not burden producers much, it would want to tax an industry with
a. elastic supply and demand curves. b. inelastic supply and demand curves. c. inelastic supply and elastic demand. d. elastic supply and inelastic demand.
Market-based policies are effective methods that the government can use to address externality problems.
Answer the following statement true (T) or false (F)
What do we mean when we say that some technological knowledge is not proprietary?
More than any other country, the citizens of _______ consider American dollar a much better medium of exchange and standard of value than their own currency.
Fill in the blank(s) with the appropriate word(s).