The takings clause indicates that private property can be seized only if the property in question is being taken for public use. Does "public use" mean using seized property only for pure public goods and services? Explain your answer
What will be an ideal response?
Public use does not mean using seized property only for pure public goods and services. Public use has been interpreted to mean that the seized property confers some benefits to the public, that it will result in improvements to public safety, health, and welfare, and that it improves the lives of those living in a community. These can, and have, all been accomplished through eminent domain with the transfer of private property to new private owners.
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Fixed costs are costs paid for:
a. medical reimbursements and health insurance of workers. b. obsolete plant and equipment not used anymore. c. plant and equipment in the long run. d. hiring temporary workers. e. resources that do not change with changes in output.
The government agency that computes the CPI is the _____.
Fill in the blank(s) with the appropriate word(s).
The difference between the maximum amount that a consumer is willing to pay for a product and the price that is paid for the product describes:
A. consumer surplus. B. the cost of producing a unit of the product. C. marginal utility. D. producer surplus.
A majority of states have a minimum wage that is higher than the federal minimum wage.
Answer the following statement true (T) or false (F)