Many economists believe that suppliers of loanable funds have property rights to those funds, similar to the way that a person of with extraordinary intelligence or physical abilities has property rights to their intellectual or physical attributes
Indicate whether the statement is true or false
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If the government seizes Lucy's property and resells it to Ethel,
A) Lucy and Ethel collectively capture the resulting gains. B) Lucy captures the resulting gains. C) Ethel captures the resulting gains. D) Neither Lucy nor Ethel capture any resulting gains.
Total revenue is the amount:
A. a firm receives from the sale of goods and services. B. a firm keeps after all expenses are paid. C. of sales that get reinvested in the firm. D. a firm receives from dividends.
If economics is correct in its assumption that people are rational, why then would anyone choose to smoke cigarettes?
When prices in the goods and services market are below the level anticipated,
a. output will temporarily exceed the economy's long-run potential. b. output will temporarily fall short of the economy's long-run potential. c. output will be equal to the economy's long-run potential. d. the actual rate of unemployment will be less than the natural rate of unemployment.