For endangered species, the federal government
A) can only protect the animal on federal property because of common property issues.
B) has the right to regulate activities on private land to save the species from extinction.
C) turns over the protection of an endangered species to the state authorities where the species lives.
D) will capture a pair of animals so that the species does not become extinct.
B
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Refer to Table 2-10. What is Barney's opportunity cost of making a unicycle?
A) 2 pogo sticks B) 2.8 pogo sticks C) 1.75 unicycles D) 1/2 of a pogo stick
In a certain textile firm, labor is the only short term variable input. The manager notices that the marginal product of labor is the same for each unit of labor, which implies that
A) the average product of labor is always greater that the marginal product of labor B) the average product of labor is always equal to the marginal product of labor C) the average product of labor is always less than the marginal product of labor D) as more labor is used, the average product of labor falls E) there is no unambiguous relationship between labor's marginal and average products.
Which of these is most likely to result when a demand-management policy is used in an economy that is experiencing stagflation?
a. A decrease in investment spending b. An increase in the rate of inflation c. An increase in unemployment d. A decrease in the rate of inflation e. A decrease in real GDP
The burden a tax places on buyers versus sellers is:
A. independent of which side is charged the tax. B. always split in half. C. never shared. D. depends on which side is charged with the tax.