What is eminent domain and what gives the government the authority to exercise eminent domain?
What will be an ideal response?
Eminent domain is the authority of the government to take private property for public use, given just compensation to the owner. The authority for governments to use eminent domain is granted by the Fifth Amendment to the U.S. Constitution.
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If an asymmetry of information is removed and laborers' preferences change against employment in a labor market, it would __________ employment and __________ the wage at the equilibrium in the market.
A. increase; raise B. increase; lower C. decrease; raise D. decrease; lower
A nation can determine how close it is to the classical range by considering its:
a. Capacity utilization index. b. Exchange rate. c. Size of the federal budget deficit. e. Export position.
Contrast the good-citizen model with the economic model to explain the reason why people engage in charitable behavior.
What will be an ideal response?
Refer to the information provided in Table 22.1 below to answer the question(s) that follow. Table 22.1PersonWeight (lbs)Abe160Boris210Calvin300Darius185Eddie240Franklin175A study to determine the effect that the weight of an average 6 ft. tall man has on the incidence of Type 2 diabetes was conducted in a small town. The six participants and their corresponding weights are listed in the table.Related to the Economics in Practice on p. 728: Refer to Table 22.1. When using regression discontinuity, if this study had a threshold of 180 pounds, the outcomes of which individuals would be compared?
A. Boris, Calvin, Darius, and Eddie B. all six individuals C. Abe and Franklin D. Franklin and Darius