A rival good is defined as a good for which there are substitutes
Indicate whether the statement is true or false
FALSE
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A chain saw manufacturer can make its chain saws safer by adding a titanium chain guard to its products. Adding the titanium chain guard costs $35 per chain saw
The manufacturer estimates that this will prevent 10 injuries for every 5,000 chain saws sold and that, on average, each injury causes $15,000 of harm. The injury cost per chain saw is A) $3.00. B) $30.00. C) $37.50. D) $40.00.
Real-wage unemployment is:
A. a mismatch between the skills workers can offer and the skills that are in demand. B. unemployment caused by workers who are changing their location, job, or career. C. the effect of wages remaining persistently above the market-clearing level. D. also called cyclical unemployment.
Which of the following assets is most liquid?
a. funds in a checking account b. a car c. ten acres of land d. a television
In the United States, inflation peaked around
A. 1973. B. 1980. C. 1982-1984. D. 1929.