A disadvantage of the travel cost method is
a. it cannot determine monetary values
b. it estimates only user value and not existence value
c. it focuses on recreational use making it ineffective for commercial use
d. all of the above
e. (b) and (c) only
e. (b) and (c) only
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Which of the following is classified as an intermediate good?
i. the purchase of a Big Mac by a college student ii. McDonald's purchase of pickles iii. a McDonald's restaurant owner's interest payment for the loan on her building A) ii only B) ii and iii C) i and iii D) i only E) i, ii and iii
The slope of the budget line is determined only by the prices of the commodities purchased.
Answer the following statement true (T) or false (F)
Suppose an economy has output of 2100, government spending of 40, consumption of 1600, and absorption of 1940. Calculate the equilibrium values of investment and net exports
What will be an ideal response?
In some cases, social regulation may alter individuals' behavior. For example, there is evidence to indicate that as more automobile safety regulations have been introduced, more individuals have begun to drive recklessly. This phenomenon is known as
A. the share-the-gains effect. B. the share-the-pains effect. C. the capture effect. D. the feedback effect.