The word "economy" comes from the Greek word oikonomos, which means
a. "environment.".
b. "production.".
c. "one who manages a household.".
d. "one who makes decisions.".
c
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Income on the horizontal axis at which the vertical distance to the 45-degree line is greater than the vertical distance to the Ep line gives rise to a ________ amount of unplanned inventory investment, and thus ________ pressure on output
A) positive, upward B) positive, downward C) negative, upward D) negative, downward
Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. On the other hand, a Canadian worker can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost for Canada is:
A. ½ pair of shoes for every 2 apples. B. 2 pairs of shoes for each apple. C. ½ apple for each pair of shoes. D. 2 apples for each pair of shoes.
A sidewalk runs across Jermichael's front yard near the street. By law, anyone has the right to use the sidewalk. When Jermichael shovels the sidewalk after a heavy snowstorm,
a. he is providing a good that is excludable. b. he is a free rider. c. those who walk on the sidewalk are using a club good. d. he is providing a good that is not rival and not excludable.
Plurality voting ___________ the ideal voting-system criteria.
A. meets all B. fails one of C. fails two of D. fails all of