An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue
A) variable B) model C) market D) trade-off
B
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When the government privatizes a common resource, it does all of the following except:
A. forces the owner to consider all the costs and benefits of their consumption choices. B. creates excludability. C. increases efficiency. D. increases undesirable side effects.
Fix-High, a car service chain, immediately needs to raise $16 million to fund the construction of four new service centers. If Fix-High's owners wish to borrow funds without sharing the ownership of the firm, they should: a. liquefy their assets
b. take out a bank loan. c. issue stocks of their firm. d. wait till they make a profit of $16 million.
Increased productivity in the agricultural sector during much of the twentieth century shifted the
A) demand curve for farm products rightward. B) supply curve of farm products leftward. C) demand curve for farm products leftward. D) supply curve of farm products rightward.
Well-established property rights and a pro-business climate are a step in the right direction, but ultimately they do little to encourage economic growth.
Answer the following statement true (T) or false (F)