The criteria or rule of the game used to ration scarce goods
What will be an ideal response?
make a difference, because people will tend to behave in ways that they think will enable
them to satisfy the criteria.
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The private cost of a good or service is the cost borne by those who do not produce the good or service
Indicate whether the statement is true or false
Which of the following is an example of price discrimination?
a. Seniors paying a lower price for tickets at movie theatres b. Students paying discounted rates on travel c. Tourists paying higher prices on local attractions than locals d. All of the above
Macroeconomics studies economywide issues like inflation and unemployment
a. True b. False Indicate whether the statement is true or false
A U.S. citizen's gift for famine relief in Somalia would be considered a:
A. capital inflow. B. capital outflow. C. current account transaction. D. service trade transaction.