The halfway-point between the buyer's valuation and the seller's opportunity cost is:
a. sometimes a focal point.
b. where the two parties invariably agree to transact.
c. outside the core.
d. inside the utility possibility frontier.
A
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Which of the following is a liability of a family?
A. Share of stock B. Unpaid credit card balance C. House D. Checking account balance
A key difference between human capital and technology is that ________
A) human capital is excludable B) human capital is nonrival C) scarce resources are used in the production of human capital D) technology is an input in the production of new technology
The United States is one of the least marketized economies in the world
a. True b. False Indicate whether the statement is true or false
Which statement best illustrates complementary goods?
A) The price of tennis rackets declines so your economics instructor decides to take tennis lessons and purchases several cans of new tennis balls. B) The price of Apple Macintosh computers declines so your economics instructor sells his or her IBM personal computer and buys a Macintosh. C) After receiving a promotion and a hefty year-end bonus from the college, your economics instructor decides to stop buying denim jeans and switches to clothing befitting his or her loftier position on the faculty. D) Fearing that the price of pipe tobacco will rise next year, your economics professor goes to his local tobacconist and purchases an ample supply to last for several years.