Which one of the following statements is most clearly inconsistent with the economic way of thinking?
a. "If you give a person a fish, you feed him for a day; if you teach him to fish, you feed him for life."
b. "If the government provides a good free to citizens, then the opportunity cost of the good is zero."
c. "If you derive the same satisfaction from a hamburger as a chicken sandwich, it makes sense to have the cheaper alternative for lunch."
d. "When it is cheaper to have someone else mow your lawn than to mow it yourself, hiring someone to do the job is consistent with economizing behavior."
b. "If the government provides a good free to citizens, then the opportunity cost of the good is zero."
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All else equal, when oil prices decrease, people are ________ to look for oil substitutes. This will ________ the number of years it will take to deplete the stock of oil
A) discouraged; increase B) discouraged; decrease C) encouraged; increase D) encouraged; decrease
The figure above shows three supply curves for wheat. Which of the following would cause the supply of wheat to shift from S1 to S2?
A. a decrease in the price of wheat B. a subsidy for wheat production C. an increase in the price of wheat D. a tax on wheat production