Which of the following means that citizens don't always get what they want as a result of their efforts to economize their own governance?
a. principal-agent relationship
b. free riding
c. coercion
d. totalitarian government
Answer: a. principal-agent relationship
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In 2011, a number of Canadians purchased homes in Arizona. Which of the following would not be a logical explanation for this?
A) The value of the Canadian dollar relative to the U.S. dollar increased during this time. B) The U.S. dollar appreciated relative to the Canadian dollar during this time. C) The Canadian dollar appreciated during this time. D) The U.S. dollar depreciated during this time.
Britain taxed windows from 1696 until 1851 . Under the 1747-57 tax rates, you would pay no tax if your home had 0 – 9 windows but if your home had 10 – 14 windows you would pay a tax of 6 pence per window for every window in your home
a. In what way is the window tax similar to the U.S. income tax? b. In what way is the window tax different from the U.S. income tax? c. Do you think from 1747–1757 the number of new homes with 9 or fewer windows increased from the pre-1747 days? Explain.
Explain how labor resistance and political and legislative influences reduce the ability of firms to minimize their costs of production. What do the two have in common in this regard?
What will be an ideal response?
A decrease in demand for a product, holding other things constant, will
A) increase the marginal revenue product of labor. B) decrease the marginal revenue product of labor. C) not change the marginal revenue product of labor. D) have an undetermined effect upon the marginal revenue product of labor.