which of the following is a private owner prohibited from doing?
What will be an ideal response?
using the property in a manner that invades or infringes on the property of another
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Economic games can be used to analyze decisions around which of the following situations?
A. War B. Business C. Environmental protection D. All of these situations.
A commodity money standard exists when exchange rates are:
a. artificially pegged to the price of oil. b. fixed in terms of gold, thus creating flexible exchange rates between countries. c. fixed in terms of gold, thus creating fixed exchange rates between countries. d. allowed to fluctuate based on the values of different currencies. e. fixed, based on the values of different currencies, in terms of some commodity.
Which of the following is considered a microeconomic issue?
A. The Federal Reserve cuts key interest rates in order to stimulate lending. B. India experiences a reduction in unemployment after opening its borders to trade. C. Walmart decides to add more self-checkout machines as the cost of labor rises. D. Chinese economic growth has declined.
Long-run equilibrium under monopolistic competition requires that
A. the demand curve intersects the average cost curve. B. the demand curve be tangent to the average cost curve. C. price be equal to marginal cost. D. quantity produced be at the point where average cost is at a minimum.