A local ordinance prohibiting leaf burning is an example of
a. inefficient government
b. obligatory controls
c. a pollution compensation tax
d. the bubble concept
e. creating a new property form
B
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Worsening terms of trade can be offset by
a. increased productivity. b. increased competition. c. reductions in domestic tariffs. d. increased property taxes.
The theory of liquidity preference was developed by Irving Fisher
Indicate whether the statement is true or false
a. True
b. False
Let's assume Ben can produce 3 units of a material good (M) or 3 units of a spiritual good (S) in a day, while Cal can produce 1 M or 2 Ss in a day. Which statement below is true?
A) Ben can produce spiritual goods more efficiently than Cal.
B) Cal can produce material goods more efficiently than Ben.
C) Ben can produce material goods more efficiently than Cal.
D) Ben can produce both material and spiritual goods more efficiently than Cal.
The concept of Nash Equilibrium:
A. has wide applicability. B. is limited in its applicability to economic behavior because firms do not follow their dominant strategies. C. is limited in its applicability to economic behavior because firms generally follow their dominant strategies. D. has been disproven by modern economists.