Which of the following is an example of a product that is nonexcludable and rival?
A) a motorcycle
B) the court system
C) Western lowland gorillas
D) a NASCAR event
C
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Which of the following is NOT among the common arguments for protection?
A. Trade can be disruptive to sectors of society facing foreign competition for the first time, as with small towns built around a single industry. B. A new or small industry in a country could be crushed by more mature foreign competitors, so the industry should be protected until it is on an equal footing with the foreign competition. C. More international trade will tend to reduce the value of the domestic currency, hurting savers. D. Major war could cut off imports from other countries and leave a country dependent on its own industries, so a nation should protect industries important to conducting a war.
What is the difference between a firm's assets and its liabilities?
What will be an ideal response?
The more progressive the tax system, the:
A. Less is the built-in stability for the economy B. Greater is the built-in stability for the economy C. Less is the effect of crowding-out on the economy D. Greater is the severity of business fluctuations on the economy
Motivation can be divided into two types:
a. Intrinsic and extrinsic b. Planned and non-planned c. Mysterious and obvious d. Achievement-oriented and open-ended