The economic way of thinking stresses that
a. changes in personal costs and benefits generally do not influence human behavior.
b. incentives matter--when an option becomes less costly, people will be more likely to choose it.
c. if one individual gains from an economic activity, then someone else must lose.
d. goods provided by government do not consume valuable scarce resources since government activity is not part of the market economy.
B
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Unemployment caused by changes in technology is called ________ unemployment
A) structural B) frictional C) techno D) cyclical
A part of the Jumpstart Our Business Startups (JOBS) Act:
A) banks were required to provide special financing for start ups B) differences between qualified and unaccredited investors were removed C) the SEC is no longer is allowed to regulate funding of business start ups D) Congress removed some of the restrictions on using crowd-funding to allow small investors to buy equity in start-ups
What is the difference between economic and accounting profit? Why is a distinction between them important?
Which of the following is likely to be excluded from the gross domestic product (GDP) of a country?
a. The value of the drugs being sold in a vacant lot b. The value of the drugs being sold in a pharmacy c. A doctor treating a patient in a hospital d. The value of a new house bought by an individual e. The value of new furnitures bought by an individual