All of the following are evidence of specialization except
a. a solo carpenter who builds a whole bedroom set
b. restaurants that range from subs to sushi
c. the credits at the end of a movie
d. professional mourners in Taiwan
e. online sellers
A
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If the price of a depleting resource does not rise as anticipated, it may be because
A. the government prohibited the methods to extract the resource. B. new methods of mining or refining were developed. C. a price floor was passed by law. D. firms that distribute the resource cartelized.
Neutral policy with respect to choice architecture is:
A. the goal of all choice architects. B. not a clear concept across different choice scenarios. C. well established in all choice scenarios. D. generally regulated by state and federal government.
The EPA's pollution exhaust standards for passenger vehicles are an example of what kind of approach to government regulation?
A. An educational campaign B. The behavioral economics approach C. A market-based solution D. The command-and-control approach
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.