Which of the following is the most complete form of economic integration?
A) Free trade area B) Customs union C) Common market D) Economic union
Answer: D
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Economic theory assumes elected and appointed government officials
A) place their personal or private welfare ahead of the public interest. B) place the public interest ahead of any personal or private interests of their own. C) are free to pursue the public interest because they aren't constrained by competition. D) respond to the anticipated costs and benefits to themselves of decisions contemplated.
Currently, the supply curve for human organs is perfectly inelastic
a. True b. False Indicate whether the statement is true or false
Suppose Eddie's demand curve for text messages is T = 150 - 500Pt, where T stands for the number of text messages and Pt represents the price of text messages. What is Eddie's consumer surplus if Pt = $0.10 per message?
A. $5 B. $10 C. $20 D. $50
Which of the following statements is correct about the extent of disagreement among economists?
a. There is a great deal of agreement among economists on virtually every economic issue. b. There is a great deal of agreement among economists on many important economic issues. c. All disagreements among economists are attributable to differences in their values. d. All disagreements among economists are attributable to the fact that different economists have different degrees of faith in the validity of alternative economic theories.