Why are most endangered species belong to common property?
What will be an ideal response?
In contrast to private property, most endangered species are common property to which no one has a property right and thus has no vested interest in ensuring that their populations survive over time.
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Answer the following statements true (T) or false (F)
1. Economic theory and economic policy are synonymous. 2. Your decision to attend college was a microeconomics choice. 3. Goods directly used by individuals and households are known as capital goods. 4. The relationship between the price of a book and the number of volumes purchased would be an example of microeconomics.
Which of the following offers an example of structural unemployment?
a. The rise in unemployment for stable workers after the development of gasoline-powered automobiles and the resulting long-term decline in horse-and- buggy transportation. b. The rise in unemployment among farm workers after harvest. c. The unemployment associated with workers changing jobs. d. The increase in unemployment during recessions.
Andrew buys yogurt, and he would be willing to pay more than he now pays. Suppose that Andrew has a change in his tastes such that he values yogurt more than before. If the market price is the same as before, then
a. Andrew's consumer surplus would be unaffected. b. Andrew's consumer surplus would increase. c. Andrew's consumer surplus would decrease. d. Andrew would be wise to buy less yogurt than before.
If the model 
? satisfies the first four Gauss-Markov assumptions, then v has:
A. ?a zero mean and is correlated with only x1. B. ?a zero mean and is correlated with x1 and x2. C. ?a zero mean and is correlated with only x2. D. a ?zero mean and is uncorrelated with x1 and x2.