Which of the following examples is most likely done out of self-interest instead of selfishness?
a. approving a cheap manufacturing method for personal profit even though it severely harms the environment
b. choosing one charity over another because it offers a larger tax deduction
c. stockpiling millions of dollars for security and refusing to give any to charity
d. reducing the pay for low-level employees to increase personal profit
b. choosing one charity over another because it offers a larger tax deduction
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The federal funds rate is a:
A) short-term nominal interest rate. B) short-term real interest rate. C) long-term real interest rate. D) long-term nominal interest rate.
The political technique called logrolling:
A. always increases economic efficiency. B. always decreases economic efficiency. C. involves trading votes to secure favorable outcomes that otherwise could be rejected. D. is an example of the paradox of voting.
Explain whether it is possible for a country to have a comparative advantage in the production of a product without having an absolute advantage in the production of that product
What will be an ideal response?
Ceteris paribus, when resource prices increase, demand decrease and the prince increase.
a. true b. false