If the local slaughterhouse gives off an unpleasant stench, then the equilibrium quantity of meat will be ________ the quantity that maximizes total economic surplus.
A. more equitable
B. lower than
C. higher than
D. equal to
Answer: C
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What will be an ideal response?
If people with blue eyes earn more than people with brown eyes, we have proof of discrimination against people with brown eyes
a. True b. False Indicate whether the statement is true or false
Which of the following would be considered a "leisure" activity by economists?
A. Driving an on-duty taxi. B. Driving a bus for a city. C. Driving to the movies. D. Driving a forklift for work.
A business cycle refers to the
A) continued expansion in Real GDP. B) recurrent swings (up and down) in Real GDP. C) continued decline in Real GDP. D) period when Real GDP grows at unusually high rates. E) none of the above