Dee is an accomplished actress and a homeowner who pays a landscaper to maintain her lawn rather than do it herself. Dee has determined that she can earn more in the hour it would take her to work on her lawn than she must pay her landscaper. This scenario is an example of which principle of economics?
a. Trade can make everyone better off.
b. Markets are usually a good way to organize economic activity.
c. Governments can sometimes improve market outcomes.
d. Prices rise when the government prints too much money.
a
You might also like to view...
The impact of an increase in the price of a particular good is illustrated as a
A) leftward shift in its demand curve. B) rightward shift in its demand curve. C) movement upward and to the left along its demand curve. D) movement downward and to the right along its demand curve. E) rightward shift in its demand curve and a movement upward and to the left along its demand curve.
The Green Chemistry Program
a. calls for participants in the product cycle to reduce life cycle environmental effects of products b. is synonymous with product stewardship c. involves only participants from the scientific community d. involves partnerships with many sectors, including academia, industry, research centers, and others
One way to avoid the principal-agent problem would be to have:
A. the employer constantly monitor the employee's efforts. B. the employee sign a waiver of release. C. the employer share all management choices with employees before making decisions. D. the employee constantly monitor the employer's activities.
If the MPC is .75, then a $50 billion increase in investment would result in an increase in GDP of
A. $50 billion. B. $75 billion. C. $150 billion. D. $200 billion.