The roots of the European Union are in agreements within the coal and steel industries
Indicate whether the statement is true or false
TRUE
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Refer to the scenario above. If the individual places his bet on ten pockets, his likelihood of winning is:
A) 5%. B) 10%. C) 20%. D) 25%.
The underground economy — the informal sector — can be a significant drag on the economies of developing countries. Why are firms in the informal sector often less efficient than firms in the formal sector?
What will be an ideal response?
While waiting in line to buy a cheeseburger for $2 and a drink for 75 cents, Aaron notices that the restaurant has a value meal containing a cheeseburger, drink, and French fries for $3 . For Aaron, the marginal cost of purchasing the French fries:
a. would be zero. b. would be 25 cents. c. would be 50 cents. d. cannot be determined because the information about the price of the French fries is not provided.
A New York legislator wanted to create a deposit on cigarettes butts. If implemented, people would have the incentive to (1) not toss cigarette butts onto public streets and sidewalks, and (2) pick butts up to redeem them for the cash. The degradation of the environment from littered cigarette butts is a
a. private goods problem. b. Nash equilibrium. c. Tragedy of the Commons. d. cost-benefit equilibrium.