Specialization permits larger outputs and offers economies of large-scale production
a. True
b. False
Indicate whether the statement is true or false
True
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Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfares are $600, but you have a frequent-flyer coupon worth $500 that you could use to pay part of the airfare. All other costs for the vacation are exactly $900. The most you would be willing to pay for the trip is $1400. Your only alternative use for your frequent-flyer coupon is for your trip to Atlanta two weeks after the break to attend your sister's graduation, which your parents are forcing you to attend. The Chicago-Atlanta round-trip airfares are $450.What is the opportunity cost of using the coupon for the Miami trip?
A. $500 B. $450 C. $100 D. $550
_____ taxation, either through exemptions, deductions, or credits, that are designed to further some goal of social policy
a. Indexation is a increase in b. Tax expenditures are a reduction in c. Bracket creep is an increase in d. The broadening of the tax base is an increase in
Perfectly competitive markets have absolutely no drawbacks.
Answer the following statement true (T) or false (F)
The type of unemployment most likely to be experienced by a touring professional golfer is: a. frictional unemployment
b. structural unemployment. c. seasonal unemployment. d. cyclical unemployment. e. discouraged-worker unemployment.