Which type of property would be the most likely to experience pollution?
A) common property
B) private property
C) property held in partnership
D) corporate property
Answer: A
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An individual who is suffering from money illusion is more concerned with
A) real prices than with nominal prices. B) nominal prices than with relative prices. C) relative prices than with nominal prices. D) relative prices than with real prices.
Which of the following will improve your bargaining position when contracting with a supplier
a. You are better able to accommodate other suppliers' brands b. You must only buy the raw material from your preferred supplier to ensure quality c. Two of your suppliers merge d. Your final product that includes this component becomes more profitable
Over time, people have come to rely more on market-produced goods and less on goods that they produce for themselves. For example, busy people with high incomes, rather than cleaning their own houses, hire people to clean their houses. By itself, this change has
a. caused GDP to fall. b. not caused any change in GDP. c. caused GDP to rise. d. probably changed GDP, but in an uncertain direction; the direction of the change depends on the difference in the quality of the cleaning that has resulted.
On a graph we draw a consumer's budget constraint, measuring the number of apples on the horizontal axis and the number of light bulbs on the vertical axis. If the slope of the budget constraint is -2, then
a. an apple costs twice as much as a light bulb. b. the opportunity cost of a light bulb is 2 apples. c. the opportunity cost of an apple is one-half of a light bulb. d. All of the above are correct.