Which of these activities will most likely result in an external benefit?
a. Ted purchases a dilapidated house and cleans up the yard and exterior of the house.
b. Tim purchases an iPhone and downloads new apps.
c. Terri purchases a new SUV and drives it to work every day.
d. Thomas purchases a suit and wears it on his interviews.
a
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The four factors of production (or types of resources) are
A. labor, capital, technology, and entrepreneurial ability. B. land, labor, capital, and entrepreneurial ability. C. labor, capital, entrepreneurial ability, and money. D. land, labor, capital, and money.
Refer to Figure 13-1. Ceteris paribus, a decrease in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Which of the distributive standards does NOT involve a value judgment?
A. egalitarian standard B. merit standard C. productivity standard D. All of the standards involve value judgments.
A person using a high discount rate is going to consider the concept of sustainability
A. just a fancy term oil and gas companies use to argue for increased rights to drill. B. as wise. C. as overly weighting the future. D. as unwisely focusing on the present.