An unregulated market economy provides material wealth but does not generate effective control of environmental damage.
Answer the following statement true (T) or false (F)
True
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Refer to Table 2-6. What is James's opportunity cost of making a wagon?
A) 3/4 of a wagon B) 1/2 of a wagon C) 2 tricycles D) 1/2 of a tricycle
Why is a firm in perfect competition a price taker?
What will be an ideal response?
Assume the graph shown represents the market for button-up shirts and was originally in equilibrium with D and S. What type of shock might cause a shift from D to D2?
A. The price of buttons has increased.
B. The price of ties went up.
C. The price of sweatshirts went up.
D. Income has increased.
An example of a policy aimed at economic development that would also indirectly impact poverty would be:
A. food stamps. B. public investments in education. C. earned income tax credit. D. All of these will cause economic growth and positively impact poverty.