A market economy provides solutions to almost all social ills such as poverty and environmental damage
a. True
b. False
Indicate whether the statement is true or false
False
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Figure 5-5 shows a consumer budget line for French fries and hamburgers. The household allocates a budget for these two goods. If the price of an order of french fries is $2, how much income is allocated to fries and burgers combined?
A. $2 B. $4 C. $10 D. $20
The cost incurred when the government collects taxes and uses resources to provide goods and services include:
a. the opportunity cost of the resources used b. the excess burden of the tax c. both of the above d. neither of the above
Which of the following is not a lower-cost benefit of an internal labor market?
A. Promoting only insiders to higher-level jobs B. The cultivation of long-term employee motivation C. Management's ability to learn about employees' best attributes D. The development of firm-specific human capital
________________ said, "Property is theft!"
Fill in the blank(s) with the appropriate word(s).