Recall the Application about the benefits generated when one country gathers information on global weather to answer the following question(s).Recall the Application. Weather monitoring is:
A. a public good.
B. a private good.
C. impossible because it requires international cooperation.
D. efficiently provided by private markets because it is profitable.
Answer: A
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Published in 1776, ________ was written by Adam Smith
A) "An Inquiry into the Nature and Causes of the Wealth of Nations" B) "The Declaration of Economics" C) "The General Theory of Employment, Interest, and Money" D) "The Communist Manifesto"
At prices below a consumer's willingness to pay:
A. the buyer will not participate in the market because the opportunity cost is more than the benefit from consuming the good. B. the buyer will not participate in the market because the opportunity cost is less than the benefit from consuming the good. C. the buyer will participate in the market because the opportunity cost is more than the benefit from consuming the good. D. the buyer will participate in the market because the opportunity cost is less than the benefit from consuming the good.
Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?
a. lagging economic indicators. b. leading economic indicators. c. coincident economic indicators. d. wishful thinking e. none of the above
Which of the following countries have instituted liberal reforms and substantially improved their economic freedom rating since 1990?
a. Japan and Italy b. Nigeria and Pakistan c. Sierra Leone and Zimbabwe d. Estonia and Hungary