Given that food production is crucial to an economy, why shouldn't governments subsidize farmers' water use?
What will be an ideal response?
The answer should look at the alternative uses of water and the discrimination against these uses. The costs and benefits of all economic activity need to be considered, including alternate sources of agricultural products.
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The benevolent social planner is based on an actual 19th century economist named Karl Marx
Indicate whether the statement is true or false
The market for Pandas needed in zoos worldwide is an example of a monopoly created by what type of barrier?
a. license b. economies of scale c. control of an essential resource d. none of the above, the market for pandas is not a monopoly
Suppose the aggregate production function is represented by the following: Y = AN. Given this information, labor productivity is given by
A) Y. B) N/A. C) A/N. D) A. E) none of the above
Workers may not know how much money they will need to save for retirement and may not earn enough to have income to save. These two problems
A. are known collectively as the life cycle theory of retirement. B. led economists to develop the life cycle theory of retirement. C. can be mitigated through application of the life cycle theory of retirement. D. present problems that may complicate the life cycle theory of retirement.