Which of the following examples is a property right?
a. the ability to worship and express religious ideas freely
b. the right to remain silent during an interrogation by police
c. the authority to transfer ownership of a car that belongs to you
d. the license to drive an interstate commercial motor vehicle
c. the authority to transfer ownership of a car that belongs to you
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What is the relationship between wants, factors of production, scarcity, and choices? Discuss the relationship for an individual and for a society
What will be an ideal response?
Andrew just lost his job as a corkscrew operator since his company has found a machine to perform his work tasks. Andrew did not have the skills needed to operate the machine. Andrew has searched for a new job for 6 months and continues to search
Therefore, Andrew is considered to be A) frictionally unemployed. B) a discouraged worker. C) cyclically unemployed. D) structurally unemployed.
If the GDP deflator in the United States is 114, and the GDP deflator in Ukraine is 142, which of the following exchange rates would the theory of purchasing power parity predict in the long run? (The Ukrainian currency is the hryvnia.)
A) 0.80 hryvnias per dollar B) 1.25 hryvnias per dollar C) 2.80 hryvnias per dollar D) 28 hryvnias per dollar
Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. The market price falls to $24. What area represents consumer surplus?
A) V + W + X + Y B) R + S C) R + S + T + U D) R + S + V