Which of the following would be considered a "leisure" activity by economists?
A. Driving an on-duty taxi.
B. Driving to the movies.
C. Driving a forklift for work.
D. Driving a bus for a city.
B. Driving to the movies.
You might also like to view...
Refer to the table above. Which of the following statements is true?
A) There is a surplus of 10 notebooks in the market when the price of one notebook is $8. B) There is a shortage of 4 notebooks in the market when the price of one notebook is $6. C) There is a shortage of 12 notebooks in the market when the price of one notebook is $4. D) There is a surplus of 4 notebooks in the market when the price of one notebook is $5.
The real purpose of the Webb-Pomerene Act of 1918 was to alter the terms of trade in favor of the United States
Indicate whether the statement is true or false
A perfectly competitive industry achieves allocative efficiency when
A) goods and services are produced at the lowest possible cost. B) goods and services are produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing it. C) it produces where market price equals marginal production cost. D) firms carry production surpluses.
The two sectors of the economy in the simple circular flow model are
A. households and businesses. B. foreign markets and domestic markets. C. the private sector and the public sector. D. the employed and the unemployed.