Stan complains to his roommate that he never has enough time to finish all the homework he's assigned, and his roommate tells him to quiet down because the first of the three movies they've planned to watch that day has begun. Stan's behavior demonstrates which economic concept?
A. rational behavior
B. time inconsistency
C. chronologically challenged behavior
D. time allocation
B. time inconsistency
Economics
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List six essential ingredients for economic growth
What will be an ideal response?
Economics
Relative to free trade, when a tariff is imposed in a market for an imported good,
A) the consumer surplus in that market increases. B) the producer surplus in that market decreases. C) the total surplus in that market decreases. D) tariff revenue decreases. E) deadweight loss decreases.
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Tax systems in developing countries tend to be efficient and reliable
Indicate whether the statement is true or false
Economics
A shift from S1 to S2 represents
A. an increase in supply.
B. a decrease in supply.
C. no change in supply.
Economics