Which of the following would be classified as an external cost?
A. When you purchase a prescription drug, you are not made fully aware of all the possible side effects that may result from taking the drug.
B. You are not able to study at night because there is so much noise coming from the dorm room next to yours.
C. A private firm will not provide national defense, as it is impossible to confine the benefits to only those individuals who have paid for it.
D. As more firms began hiring computer programmers, the salaries of computer programmers increased, and therefore the firm's cost of production increased.
Answer: B
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As a percentage of GDP, imports are greater than exports for which of the following countries?
A) the Netherlands B) the United States C) Germany D) Italy
There is no possible economic relationship between the birth rate and the availability of arable land
Indicate whether the statement is true or false
Trevor and Lynda bought a home in 2013 for $185,000 with a 20% down payment. Their mortgage payments were only applied to interest on the mortgage balance. In 2017, the couple sold their home for $148,000. What was the value of their equity?
a. 0 b. $37,000 c. $11,100 d. $18,500
Boundary setting refers to
A. managers requesting permission to ratify every decision made by an empowered worker. B. employees seeking approval for every decision from managers. C. workers setting up rules of empowerment that might influence their decision-making authority. D. managers preratifying certain decisions made by empowered workers within a certain range, while still maintaining supervisory control.