The indifference curve between eggs and dozens of eggs would be
A. a rectangular hyperbola.
B. a downward sloping straight line with a slope of -12.
C. bowed in to the origin.
D. bowed out from the origin.
Answer: B
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A Pigovian tax internalizes an external cost because
a. the cost then enters the decision-making process of the producer. b. it would be collected by the Internal Revenue Service. c. the revenue is used to compensate injured parties. d. no transactions costs are created.
Labor income includes:
A. interest, dividends, and rent. B. wages, salaries, and earnings of the self-employed. C. payments to owners of factories, machines, and buildings. D. profits, royalties, and rent.
Mia always carries $50 in her purse to pay for groceries. This is an example of the
A. precautionary demand for money. B. asset demand for money. C. transactions demand for money. D. wealth demand for money.
Which of the following is considered economic capital?
A. the knowledge an individual acquires through education B. 20,000 Swiss francs C. a U.S. Treasury bond D. 500 shares of Google stock