According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A. 47 hours
B. 22 hours
C. 42 hours
D. 96 hours
Answer: C
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Which of the following is not included in GDP?
A) Unpaid maintenance of your house by your spouse. B) Services such as those provided by lawyers and dentists. C) The estimated rental (imputed) value of owner-occupied housing. D) Production by foreign citizens in the U.S.
Why can't a firm in a perfectly competitive industry charge a price above the market-clearing price?
a. Government-imposed price ceilings prevent prices from being raised b. Firms in a perfectly competitive industry face significant barriers to entry. c. Perfectly competitive firms are price searchers. d. Numerous competitors produce the same product and charge the market price.
Supporters of globalization argue that multinational firms pay higher wages than local firms, and provide greater benefits for workers than existed in the country prior to globalization
a. True b. False Indicate whether the statement is true or false
The? special-interest theory of government suggests a government will approve an inefficient project if the costs of the project are paid by a large number of citizens and the benefits go to a small number of citizens.
The? special-interest theory of government suggests a government will approve an inefficient project if the costs of the project are paid by a
number of citizens and the benefits go to a
number of citizens.