Regulation in a city or town that designates separate areas for residency and business:
a. commerce zone boundaries
b. business franchise
c. zoning law
d. Stockholm boundaries
e. business license
Ans: c. zoning law
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Which sum of money most adequately represents the value someone places on the works of Shakespeare? The sum they would be willing to pay to
A) purchase a set of Shakespeare's complete works. B) purchase a set of Shakespeare's complete works if they did not already own a set. C) purchase a set of Shakespeare's complete works if they did not have ready access to a set. D) purchase a set of Shakespeare's complete works if they had no other way to obtain access to the complete works. E) purchase a set of Shakespeare's complete works if they had no other way to obtain copies of any of them to read.
An example of a market failure is
A) a firm is dumping toxic waste that is making people sick. B) when not everyone who wants to see a major league football game can. C) when there is an increase in demand and a shortage develops. D) unemployment.
We define autonomous expenditure to be expenditure that:
A. is unaffected by the current level of income in the economy. B. that changes under the guidance of the government. C. depends on how much income changes in the economy. D. people make that pertains to the auto industry.
A decrease in the quantity of resources
What will be an ideal response?