The key factors of production are:
A) human capital, physical capital, and information.
B) human capital, physical capital, and technology.
C) human capital, technology, and information.
D) physical capital, technology, and information.
Ans: B) human capital, physical capital, and technology.
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Someone who says he loves his mother far more than he loves football but nonetheless attends a football game when he could be visiting his mother
A) displays weakness of will. B) is a hypocrite. C) is behaving inconsistently with his own stated values. D) places a lower marginal value on visiting his mother than on attending the football game. E) shows that the marginal value of visiting his mother is less for him than the marginal cost of attending the football game.
Over a decade or longer, a government budget deficit
A) reduces national saving and stimulates economic growth. B) reduces national saving and economic growth. C) increases national saving and economic growth. D) increases national saving and decreases economic growth.
Some companies and celebrities are using a variant of pollution rights to become "carbon neutral."
a. True b. False
When correcting for an externality, command-and-control policies are always preferable to market-based policies
a. True b. False Indicate whether the statement is true or false