A. a discouraged worker:
B. unemployed.
C. hard core unemployed.
D. unemployable
A. will always increase the quantity of saving
B. will always decrease the quantity of saving
C. will increase the quantity of saving if the substitution effect outweighs the income effect
D. will increase the quantity of saving if the income effect outweighs the substitution effect
A. labor
B. physical capital/worker
C. human capital/worker
D. natural resources/worker
A. With a large enough computer, central planners could guide production more efficiently than markets.
B. Market participants act as if guided by an invisible hand to produce outcomes that maximize social welfare
C. The strength of a market system is that it tends to distribute resources evenly across consumers.
D. Taxes help prices communicate costs and benefits to producers and consumers.
A. hot dogs at a picnic
B. Whales in the ocean
C. national defense
D. apples on a tree in a public park
A. the tragedy of commons
B. sustainable development
C. net primary productivity (NPP)
D. the impossibility theorem
A. Woodwork
B. Dairy farms
C. Carpets
D. Iron work