Value judgments are based on people's tastes, preferences, and ethical opinions
a. True
b. False
Indicate whether the statement is true or false
True
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Say's law implies that
A) surpluses never occur. B) there will always be unemployment. C) surpluses or shortages are possible, but only for a short time. D) shortages never occur.
Refer to Figure 10-6. A change in the price of popcorn only is shown in
A) Panel A. B) Panel B. C) Panel C. D) none of the above panels.
Jim, a U.S. citizen, works only in Croatia. The value added to production from his employment is:
A) included in only Croatian GNP. B) included only in U.S. GDP. C) included only in U.S. GNP. D) not included in either U.S. GDP or U.S. GNP.
A free rider is someone who
A) hops on the bus for free. B) enjoys the flowers I have planted and does not compensate me for them. C) creates a negative externality. D) buys a ticket for a movie.