Most of our environmental problems exist because of
a. a lack of enforced and easily traded property rights.
b. consumer ignorance.
c. profit maximization on the part of business firms.
d. the failure of political officials to regulate business activities.
A
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Refer to the scenario above. What is Wendy's opportunity cost of producing one greeting card?
A) 0.25 earrings B) 0.5 earrings C) 1 earring D) 2 earrings
The value of goods, services, incomes or wealth subject to taxation is
A) the tax base. B) a sales tax. C) the collected tax revenue. D) a unit tax.
In a two regressor regression model, if you exclude one of the relevant variables then
A) it is no longer reasonable to assume that the errors are homoskedastic. B) OLS is no longer unbiased, but still consistent. C) you are no longer controlling for the influence of the other variable. D) the OLS estimator no longer exists.
Perfect competition is a market structure in which there is:
a. a contest among firms to provide good service after the sale. b. competition in product quality. c. rivalry in product design. d. none of these.