Which of the following is the least likely to be investment?
A. a household buying a new house
B. a household saving for retirement
C. GM building a new factory
D. a car dealer adding to its cars on hand
Ans: B. a household saving for retirement
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Refer to the table above. What is the market demand for wine when the price is $1?
A) 50 units B) 80 units C) 51 units D) 76 units
Huey has eaten two hamburgers and is considering a third. The marginal benefit in his decision is the pleasure from consuming
A) the two previous hamburgers. B) all three hamburgers. C) just the third hamburger. D) just the second hamburger. E) the third hamburger minus the pleasure from consuming zero hamburgers.
Scarcity implies that
A. firms should be more efficient when producing goods. B. people must make choices. C. nonrenewable resources should never be used. D. people should limit their wants, since shortages exist.
Imposing the same standards on high- and low-income countries can be a problem because
A) it widens the market and lowers prices. B) there are no economies of scale for low-income countries. C) high-income countries have few environmental problems. D) low-income countries may have less ability to enforce standards.