One implication of the phenomenon described by economist Richard Easterlin as the "hedonic treadmill" is that:
A. People who consume more goods and services are happier than those who consume less
B. People can only become happier if they are consuming more and more
C. There is a threshold of consumption that one must cross before one can be happy
D. We can combine the happiness of different individuals to get "total happiness"
B. People can only become happier if they are consuming more and more
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Refer to the figure below. 
If Column Cruises offers reduced rates, and Row Resorts keeps its rates high, then Row Resorts will earn ________, and Column Cruises will earn ________.
A. 300; 300 B. 10; 500 C. 500; 10 D. 50; 50
According to the horizontal-equity principle of taxation
A) individuals who receive the benefits of a good or service should bear a greater share of the tax burden. B) people in the same economic situation should be treated equally. C) individuals who are willing to bear a greater share of the tax burden should be compensated with non-monetary benefits. D) individuals who are most able to pay should bear a greater share of the tax burden.
Categorization of activities in an organization along product or geographic lines is called:
a. globalization. b. decentralization. c. functionalization. d. divisionalization.
Which of the following would not shift a market labor supply curve to the right?
a. a decrease in the wage paid to workers in a competing market b. labor-augmenting technology c. a change in worker tastes so that workers want to retire later d. an increase in immigration