Imagine a 2,000-acre park with picnic benches, trees, and a pond. Suppose it is publicly owned, and people are invited to enjoy its beauty. When the weather is nice, it is difficult to find parking on summer afternoons. Otherwise, it is a great place. An efficient solution to the parking problem would be to
a. prohibit parking in the vicinity of the park.
b. charge higher prices for parking at busy times.
c. police the parking area and ticket cars that are parked illegally.
d. do nothing.
b
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According to the graph shown, if this economy were to engage in free trade, the good would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. be imported.
B. be exported.
C. no longer be produced domestically.
D. not be imported or exported and only be produced domestically.
Examples of employment discrimination would include
A. the legendary Negro league pitcher Satchel Paige who was not allowed to pitch in the major leagues until he was in his late 40s. B. the large majority of women in the 1950s and 1960s who were typists or secretaries. C. the attitude that typing, filing and other clerical positions were "women's work". D. all of the examples are true.
If the current unemployment rate is less than the natural unemployment rate, then the economy is
A) in long-run equilibrium. B) in an inflationary gap. C) in a recessionary gap. D) producing at full employment. E) b and d
Which of the following is a positive incentive?
A. A school teacher decides to retire and focus on gardening. B. A business decides to leave the industry. C. McDonalds decides to offer a white chocolate mocha. D. Discover credit cards offer 0 percent balance transfer rates for someone to open a new account.