Prices that adjust slowly are:
A. custom prices.
B. auction prices.
C. flexible prices.
D. heavy prices.
Answer: A
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The practice of governments or firms actively improving the educational and job opportunities of members of groups that have not been treated fairly in the past is called
A) segregation. B) subsidization. C) resource allocation. D) affirmative action.
If prices rise in the United States, everything else constant, the dollar __________ against the yen and the yen __________ against the dollar
A) appreciates; appreciates B) appreciates; depreciates C) depreciates; appreciates D) depreciates; depreciates
If a person does not pay all costs associated with a particular resource-using activity, then
A) the external costs of the activity are greater than the private costs of the activity. B) the social costs of the activity are greater than the private costs of the activity. C) the external costs of the activity are greater than the internal costs of the activity. D) the full costs of the activity are the sum of private costs plus internal costs.
Which of the following activities describes the opportunity cost of attending an economics class?
What will be an ideal response?