In the economic way of thinking,
A) buyers compete against other buyers, sellers cooperate with other sellers, and buyers cooperate with sellers.
B) buyers cooperate with other buyers, sellers cooperate with other sellers, and buyers compete with sellers.
C) buyers compete against other buyers, sellers compete against other sellers, and buyers cooperate with sellers.
D) buyers cooperate with other buyers, sellers cooperate with other sellers, and buyers cooperate with sellers.
C
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Foreign aid:
A) flows from developing nations to developed nations. B) is limited to African countries. C) can lead to corrupt practices in countries ruled by dictators. D) is extremely effective in economies with extractive institutions.
For state residents, interest on most bonds issued by their state government is
A) exempt from state and federal income taxes. B) exempt from state, but not from federal, income taxes. C) exempt from federal, but not from state, income taxes. D) subject to both state and federal income taxes.
The President's statement that "to encourage economic growth, taxes should be cut"
A) would be an example of a normative statement. B) would be an example of a positive statement. C) would be an example of a microeconomic statement. D) would be a statement of mercantilist economic philosophy.
A good example of land resources is
a. a steel billboard on an interstate highway b. water c. wood-based furniture d. machinery made from iron ore e. buildings located on prime real estate