Over the last three decades the "college premium" has ________ because of ________.
A. increased; technological advances
B. decreased; technological advances
C. increased; racial and gender discrimination
D. decreased; laws that prohibit discrimination
Answer: A
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When the city of Fresno holds a referendum to determine if taxes will be raised to pay for road repairs, the city is using a ________ allocation method
A) majority rule B) market price C) contest D) personal characteristics E) command
In economics, risk is said to exist when:
A) the outcome of an activity is not known with certainty. B) the cost of producing a good exceeds its market price. C) net present value of an outcome is positive. D) the probability of an outcome is one.
The production possibilities curve shows that:
A. some of one good must be given up to get more of another good in an economy that is operating efficiently. B. no output combination is impossible. C. an economy that is operating efficiently can have more of one good without giving up some of another good. D. scarcity can be eliminated.
Molly received an autographed poster of David Hasselhoff for her 21st birthday. Her friend Helga offered her $50 for the poster, but Molly refused to sell the poster even though she knows she would never pay that much to replace it if it was ever damaged
or destroyed. Explain this inconsistency in Molly's behavior. What will be an ideal response?