Amazon's Home Services website connects customers of appliances with professionals who can install appliances for those customers. As a result of this service, Amazon is a
A) loss leader.
B) platform firm.
C) voluntary firm.
D) supermarket.
Answer: B
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If the marginal benefit of reducing emissions of some air pollutant is less than the marginal cost
A) economic efficiency will be increased if further reductions are made. B) pollution taxes should be imposed on producers to pay for further reductions. C) further reductions will make society better off. D) further reduction will make society worse off.
The Eurodollar market's early growth was stimulated by the Cold War between the United States and U.S.S.R. Why?
A) Soviets feared the U.S. might confiscate dollars place in American banks if conditions of Cold War were to worsen. B) The United States didn't feel safe holding as many dollars in American banks. C) The Cold War did not stimulate the Eurodollar market's early growth. D) Developing technologies required larger money transfers than central banks could handle. E) Soviets developed a new banking system with new allies developed during the tension.
The Constitution helped establish a secure and well-defined system of property rights and rights of persons because it did which of the following?
(a) It established that people could be deprived of property without due process of law. (b) It loosely defined which contracts would be enforced. (c) It permitted bankruptcy without just cause and required government stamp of approval. (d) It let market forces, not government, set prices on the sale of land among private citizens.
The idea that only the government can organize economic activity in a way that promotes economic well-being for a country as a whole
a. is a basic principle regarding individual decisionmaking. b. amounts to a denial of one of the basic principles regarding interactions among people. c. supports the idea that the "invisible hand" should guide economic activity. d. was promoted by the economist Adam Smith in a well-known 1776 book.