If a local fishing club spends time each year cleaning up local streams by removing trash thrown by motorists, efficiency would be improved if
A) motorists were fined and fishing club activities were taxed.
B) the fishing club's activities were subsidized.
C) the fishing club was taxed.
D) motorists were subsidized.
B
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The figure illustrates the demand for and supply for jeans. Suppose jeans are a normal good and people's incomes increase
At the initial price of $50 for a pair of jeans, after the increase in income the quantity demanded is ________ than the equilibrium quantity and there is a ________ of jeans. A) greater; surplus B) greater; shortage C) less; surplus D) less; shortage
An economy is judged efficient if
a. it is good at producing what people want. b. it produces things that people may not want but in the least wasteful way. c. produces whatever people want in a way that may not be the least wasteful. d. it is a free-market economy and not a command market.