The only rental house available at your favorite lake on July 4th is out of your price range. This is an example of:
A. a resource constraint.
B. why you should have a yard sale.
C. why everyone isn't already doing it.
D. an infringement upon your freedoms enjoyed as a patriotic American.
A. a resource constraint.
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Excise taxes constitute a large source of government revenue
a. True b. False
If there are two goods and two countries, then one country can have
A) an absolute advantage in only one good. B) an absolute advantage in both goods. C) a higher opportunity cost of producing both goods. D) a lower opportunity cost of producing both goods.
Which of the following does not describe a pure market economy? a. The choices of buyers and sellers determine the market prices of goods and services. b. Prices serve as signals to buyers and sellers
c. Prices and outputs of most goods and services are stable over time. d. Owners of resources in greater demand by others tend to have higher incomes.
What is the value of any index in the base period?
a. 200 b. 150 c. 110 d. 100 e. 105