Which of the following is considered a nonrenewable natural resource?
A. Wind.
B. Timber.
C. Oceans.
D. Tin.
Answer: D
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Two economists from Northwestern University estimated the benefit households received from subscribing to broadband Internet service. The economists found that
A) the average consumer of broadband Internet service received a marginal benefit equal to $36. B) one month's benefit to consumers who subscribe to broadband Internet service is about $890 million. C) most consumers of broadband Internet service were not willing to pay more than $36 per month. D) the consumer surplus from dial-up Internet service exceeded the consumer surplus from broadband Internet service.
A plumbers' union is an example of
A) an industrial union. B) a craft union. C) skilled workers union. D) auxiliary union.
If production of a good creates negative externalities, then the market
a. will under produce it b. will over produce it c. must be perfectly competitive d. must be constrained by barriers to entry e. will produce the most efficient quantity
Harry and Gus fish the same lake together from the same boat
Each morning Harry typically catches either 20 bluegills or 5 walleyes (depending on how deep he fishes) while Gus typically catches either 20 bluegills or 2 walleyes (depending on how deep he fishes). Other things constant, if they wish to maximize the total number of fish they catch together tomorrow morning, regardless of species, A) Harry should fish and Gus should row. B) Harry should fish only for bluegills and Gus should fish only for walleyes. C) Gus should fish only for bluegills and Harry should fish only for walleyes. D) both Harry and Gus should fish for bluegills.