When an infinite value is placed on human life, policymakers who rely on cost-benefit analysis
a. are forced to pursue any project in which a single human life is saved.
b. are likely to make decisions that optimally allocate society's scarce resources.
c. would not pursue any public project that would not save human life.
d. would be forced to rely on private markets to provide public goods.
a
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Which of the following indicates that the law of supply applies to makers of soda?
A) An increase in the price of a soda leads to an increase in the quantity of soda supplied. B) An increase in the price of a soda leads to an increase in the supply of soda. C) An increase in the price of a soda leads to an increase in the demand for soda. D) A decrease in the price of a soda leads to an increase in the quantity of soda demanded. E) A decrease in the price of a soda leads to an increase in the supply of soda.
Refer to Table 2-14. Scotland has a comparative advantage in the production of
A) motorcycles. B) guitars. C) both products. D) neither product.
Compared to Treasury bills, commercial paper
A) has no default risk. B) does not have much of a secondary market. C) has a lower yield. D) sells at a higher price for.
Evaluate the statement: “A market that produces an identical product cannot be become an oligopoly.”
What will be an ideal response?