There is great concern over the idea that citizens should have to provide specific identification to be able to vote in elections. A study of the costs and benefits of implementing a voter identification program is an example of
A. positive economics.
B. laissez-faire economics.
C. normative economics.
D. labor economics.
Answer: A
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You want to purchase two umbrellas. The price is $40 per umbrella, 2 for $60, 3 for $75. What will be the marginal cost to you of buying a third umbrella?
A) $75 B) $25 C) $20 D) $15 E) $10
The industry that produces zangs is in long-run equilibrium. Then the demand for zangs increases permanently. As a result, firms in the industry will ________. Some firms will ________ the industry, and the industry supply curve will shift ________
A) make economic an profit; enter; rightward B) make zero economic profit; exit; leftward C) incur economic losses; exit; rightward D) incur economic losses; exit; leftward
The study of economic growth focuses on the factors that cause an:
A. economy's production possibility curve to shift in. B. economy's production possibility curve to shift out. C. economy to move from a point inside its production possibility curve to a point on this curve. D. economy to move along its production possibility curve.
Using the rule of 70, if the GDP per capita growth rate in the United States is 4.4 percent, real GDP per capita doubles every:
A. 6.72 years. B. 15.91 years. C. 44 years. D. 65.6 years.