Marginal land is land on the borderline of
A. producing revenue.
B. being used profitably.
C. producing economic rent.
D. a facility that produces output.
Answer: B
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We have discussed the principal-agent problem as a form of moral hazard. Discuss the unique problems a bank manager faces in terms of trying to please the owners of the bank and at the same time trying to appease regulators.
What will be an ideal response?
The average American pays a higher percent of his income in taxes today than he would have in the late 18th century
a. True b. False Indicate whether the statement is true or false
Related to the Economics in Practice on page 83: Which of the following best explains why the people who wait for hours to acquire tickets to free performances earn less on average than the people who actually see those performances?
A. High-wage individuals are more likely to have schedule conflicts that prevent them from using their tickets. B. People interested in live performances are likely to have access to other forms of entertainment, such as television and radio. C. The value of time spent waiting in line is less for people who earn less money. D. People who earn more money are less likely to be aware of the opportunity to acquire free tickets.
As of 2010, per capita GDP in the United States was approximately how many times the world average?
A. 5. B. 7. C. 3. D. 9.