The concept that a student is enjoying the benefits of police protection even though she does pays taxes is called
A) the free-rider problem.
B) the negative externality principle.
C) the principle of rival consumption.
D) the principle of anti-trust.
Answer: A
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If the government sets a minimum price at which a good or service can be sold, it thereby creates
A) a price ceiling. B) a black market price. C) a price floor. D) an illegal price control.
If the labor force is 90 million and the number of people who are looking for jobs but cannot find them is 9 million, the unemployment rate is:
A. 9 percent. B. 91 percent. C. 81 percent. D. 10 percent.
The idea that any public information you will be able to find will prove of little value to you when buying and selling stocks, because that information is so quickly incorporated into the trading prices of stocks, is known as the
A) theory of efficient markets. B) theory of fundamental analysis. C) principle of context. D) over-the-counter hypothesis.
________: the area above the market supply curve and below the market equilibrium price
Fill in the blank(s) with correct word