When we drive a car we own, we incur not only a private cost, but also a(n) ________ cost.
Fill in the blank(s) with the appropriate word(s).
external (or social)
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What do economists mean when they refer to inflation as "general increase in the prices of goods and services."
A. Some prices are rising, some prices are falling, and some prices are constant, but on average, prices are increasing. B. Some prices are rising, some prices are falling, and some prices are constant, but on average, prices are decreasing. C. All prices are rising. D. All prices are falling.
In general, educating workers:
A. makes them more productive. B. does not affect overall economic growth. C. contributes little to other capabilities. D. All of these statements are true.
Economic analysis assumes that...
What will be an ideal response?
Outsourcing is a management innovation that emphasizes:
A. hiring only managers educated in another state. B. assignment of management and production responsibilities to another firm. C. reduction in the purchase of resources to the bare essentials. D. vertical integration of production and service.