Which of these activities will most likely impose an external cost?
a. Betty plants flowers in her garden.
b. Bonnie gets a flu vaccine.
c. Bridget drives her car after having too much alcohol to drink.
d. Becky buys a new flat screen television.
c
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What is the percentage of income received by the middle three quintiles on line Z?
Janine’s country is wealthy and has a large amount of capital. If her country adds a single unit of capital, the result will be a relatively ______ in output.
a. large decrease b. minor decrease c. large increase d. minor increase
According to the Bureau of Labor Statistics, a person who is not working and is not looking for work is
A. considered unemployed. B. considered underemployed. C. counted as a "not currently working" member of the labor force. D. not a member of the labor force.
Which of the following is INCORRECT regarding monopoly and profits?
A) The mere existence of a monopoly does not guarantee high profits. B) Numerous monopolies have gone bankrupt. C) A monopolist will never experience economic losses. D) The monopolist reaches profit-maximizing output by trial and error.