The shared values and trust that promote cooperation in the economy are referred to as:
a. academic capital.
b. social capital.
c. human capital.
d. physical capital.
b
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A carbon tax which is designed to reduce pollution is an example of a
A) noneffective incentive. B) command-and-control policy. C) market-based policy. D) government administrative rule.
Since the Social Security system began in 1935, the number of workers per retiree has
A) continually declined. B) stayed roughly the same. C) continually risen. D) risen and declined with different generations.
The primary goal of an agricultural extension service is to
(a) bring new areas under cultivation. (b) increase the yield per hectare. (c) introduce land reform. (d) assist rural-urban migration.
The difference between what a consumer is willing to pay for a unit of a good and what must be paid when actually buying it is called
A) producer surplus. B) consumer surplus. C) cost benefit analysis. D) net utility.