Which of the following is not an advantage to congestion charges for motorists who wish to drive on busy streets?
a. reduced travel time during peak hours
b. reduced need for public transportation
c. improved environmental quality
d. improved valuation of a common resource
b
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The value of the U.S. dollar bill is determined by
A) the quantity of gold in Fort Knox. B) the quantity of gold in the Federal Reserve. C) the quantity of gold in circulation. D) the gold futures market. E) none of the above.
State the law of supply and explain it
What will be an ideal response?
A basic understanding of economics is needed to be an informed citizen.
Answer the following statement true (T) or false (F)
This graph shows three different budget constraints: A, B, and C. If Ted's budget constraint is shown by line A in the graph shown, and Ted's income for these two items is $36, what are the prices of the two goods?
A. Soda costs $12 per case and milk costs $9 a gallon. B. Soda costs $3 per case, and milk costs $4 a gallon. C. Soda costs $4 per case, and milk costs $3 a gallon. D. Soda costs $6 per case and milk costs $3 a gallon.