Generally speaking, resources are used more wastefully and carelessly when
A) users obtain the resources through the market process.
B) users do not have to pay the opportunity cost for using resources.
C) users use resources to only advance the projects they are interested in.
D) users privately own resources.
B
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Katy is holding an English auction. If she estimates the values of her bidders to be $2, $4, $10, $15 and $25, she should expect to be able to make ____ off the auction
a. Just above $10 b. Just below $10 c. Just above $15 d. Just below $15
Which of the following about inflation is true?
a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals. b. Unanticipated inflation is a change in the price level that is widely expected. c. Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy. d. Inflation will increase the prices of goods and services that households purchase but not the wage rates of workers.