If people are self-interested, why does anyone give money to public radio?
Since people can listen to public radio without having to contribute, we know this can create a funding problem. However, since the economic concept of enlightened self-interest is broader than a narrow, selfish view, we would see people making this choice as contributing to their own interests. These people consider public radio good for their community. They value their community's well-being and, therefore, support public radio.
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If the U.S. Congress imposes a quota on imports of Japanese cars due to claims of "unfair" trade practices, and Japanese demand for American exports increases at the same time, then, in the long run ________, everything else held constant
A) the Japanese yen will appreciate relative to the U.S. dollar B) the Japanese yen will depreciate relative to the U.S. dollar C) the Japanese yen will either appreciate, depreciate or remain constant against the U.S. dollar D) there will be no effect on the Japanese yen relative to the U.S. dollar
What is a characteristic of human capital?
A) rivalry B) rapid accumulation C) private ownership D) concavity
A price taker is a firm that
A) seeks to maximize revenue rather than profit. B) cannot influence the market price. C) searches for the best price and then takes the highest profits possible. D) buys inputs for firms.
Which of the following was true with regard to the Great Depression?
a. The policies of the New Deal brought the Great Depression to an end well before World War II. b. Sound economic policy was followed during this era, which makes the length and severity of the Great Depression puzzling to economists. c. The length and severity of the Great Depression was the result of unsound economic policies followed by both the Hoover and Roosevelt Administrations. d. The Great Depression was largely the result of the highly expansionary monetary policy of the Fed during the 1930s.