An example of a final service is:
A. getting the oil changed in your car.
B. a used car.
C. Tires purchased by Ford to put on their new Explorers.
D. a tire to replace your flat.
Answer: A
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. The Pareto criterion is a criterion under which any proposal that can be unanimously defeated should be rejected. 2. To be effective, a price ceiling needs only to be enforced. 3. If a tax and a price control have the same effect on the price paid by consumers, then the two policies will create the same deadweight loss. 4. Consumers will benefit from a tariff, because it helps domestic firms and generates revenue for the government. 5. The value of a good is ultimately determined by the amount of labor needed to produce the good.
Refer to Figure 4-3. Kendra's marginal benefit from consuming the third ice cream cone is
A) $13.00. B) $2.50. C) $1.50. D) $0.50.
Most economists prefer corrective taxes to regulation as a way to correct the problem of pollution because
a. the market-based solution is less costly to society. b. the market-based solution can result in a greater reduction in pollution. c. the market-based solution raises revenue for the government. d. All of the above are correct.
If butter and margarine are substitutes and the price for margarine increases, all of the following will result except
A. the quantity demanded for margarine will fall. B. the price of butter will rise. C. the demand for margarine will fall. D. the demand for butter will rise.