Fast food restaurants produce a range of menu items such as hamburgers, chicken sandwiches, salads, and french fries. What fundamental economic question are they addressing by offering this range of items?
A) Why produce a variety of menu items? B) What to produce?
C) Who to produce the menu items for? D) How to produce goods that consumers want?
B
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According to the Strong Coase Theorem, when will the assignment of property rights have no effect on the allocation of resources?
a. Always. b. When there are no transactions costs. c. When there are no transactions costs and changes in the distribution of income do not have significant effects on market demand curves. d. When liability is assigned to the party with the least-cost method of dealing with an externality problem.
Explain and show graphically how an increase in incomes in the United States will affect equilibrium in the foreign exchange market?
What will be an ideal response?
The employment ratio is always ________ than labor force participation, because only the latter ________
A) larger; omits discouraged workers B) smaller; includes the unemployed C) smaller; omits people too young to work D) larger; includes people looking for work
The budget deficit refers to how much has been borrowed:
a. in one particular year. b. over time. c. against Social Security. d. to pay interest on loans.