According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A) 14 hours B) 22 hours C) 47 hours D) 96 hours
C
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An objective analysis of "what is" in the economy is referred to as
A) positive economics. B) normative economics. C) command economics. D) implicit economics.
Large commercial banks are considered to be market makers because:
A) without them, there would be no foreign exchange market B) they can easily manipulate the value of currencies in the foreign exchange market C) they are willing to buy and sell major currencies at any time D) they created the foreign exchange market
Refer to Table 2.3. Nominal GDP in 2013 is
A) $568.00. B) $794.00. C) $812.00. D) $961.00.
The interest rate is the opportunity cost of transferring spending power between time periods. However, the market mechanism may fail to provide adequately for future economic growth. List the reasons why a market might fail