Which of the following losses to an individual would an insurance company NOT cover?
A) The person's automobile is stolen.
B) Fire destroys the person's home.
C) The person's father dies.
D) The person's country is invaded.
D
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A shift in tastes toward American goods ________ net exports in the U.S. and causes the IS curve to shift to the ________ in the U.S., everything else held constant
A) decreases; right B) decreases; left C) increases; right D) increases; left
A publishing house is using 400 printers and 200 printing presses to produce books. The printers' wage rate is $20 and the price of a printing press is $100. The last printer added 20 books to total output, while the last printing press added 50 books to total output. The publishing house
A. could produce the same number of books at a lower cost by using more printing presses and fewer printers. B. should use more printing presses because they are more productive than printers. C. is using the cost-minimizing combination of printers and printing presses. D. could produce the same number of books at a lower cost by using more printers and fewer printing presses. E. should use more printers because they are cheaper than printing presses.
For central governments is most OECD countries,
a) business taxes are the largest source of government revenue b) Social Security contributions are smaller than taxes for other transfer programs c) taxes on property income are the major source of government revenue d) direct taxes on households raise more revenue than corporate taxes e) lotteries generate more revenue than taxes
Scarcity can best be defined as a situation in which:
A. some producers are selfish with resources. B. consumers look for bargains. C. all wants cannot be satisfied due to resource constraints. D. people respond to incentives.