The consumption of a common resource by one person does not affect the availability of that resource to others.
Answer the following statement true (T) or false (F)
False
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A program under which the government gives all citizens a substantial lump sum payment that is financed by a tax earned income is termed a(n) ________.
A. positive income tax. B. in-kind transfer. C. negative income tax. D. unearned income tax credit.
In the United States since 1929, the duration of recessions on average has been:
A. shorter than the duration of expansions. B. longer than the duration of expansions. C. steadily increasing. D. steadily decreasing.
In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of $3 per hour will
A) have no effect on the market. B) result in unemployment. C) result in a labor shortage. D) immediately shift the demand curve to D1.
GDP is: a. the value of all final goods and services produced domestically within a given period of time
b. the value of all final good and services produced anywhere in the world by a nation's firms within a given period of time. c. the value of all final goods and services produced by a government within a given period of time. d. the sum of all currency and coins in circulation.