Natural resources:
A. are physical structures that sit on the earth, improving it and making it more productive.
B. are production inputs that come from the earth.
C. are natural talents people are born with that make them productive.
D. None of these is true.
Answer: B
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Consider the United States' production of soy beans and running shoes. If the United States has an absolute advantage in the production of both goods compared to China,
A) only the United States can gain from trade. B) each country will be able to produce at a point beyond its PPF. C) only China can gain from trade. D) only the United States will be able to operate beyond its PPF. E) both countries can gain from trade.
Under current guidelines, the Federal Trade Commission will likely challenge
A) all mergers if the Herfindahl-Hirschman index (HHI) is 2500 or higher. B) a merger if the HHI is 2500 or higher and the merger increases the HHI by more than 200 points. C) a merger if the HHI is 2500 or higher and the merger increases the HHI by more than 50 points. D) a merger if the HHI is 1500 or higher and the merger increases the HHI by more than 300 points.
What do you think Eminem's incentive is to give a free show? Was his decision made in self-interest or in the social interest? Explain your answer
What will be an ideal response?
Which of the following factors affecting decision-making is studied by Behavioral Game Theory?
A) psychological biases B) limited power of calculation C) weather forecast D) A and B are correct