Why is it that all of our wants cannot be satisfied?
A) because of shortages
B) because we cannot seem to decide what we really want
C) because other people try to change your mind about what you want
D) because limited resources mean all the goods we want cannot be obtained
D
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How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.50 dollars per one British pound?
A) 50 dollars B) 60 dollars C) 70 dollars D) 80 dollars E) 75 dollars
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers clear-cut a tract of land when paying a fixed fee rather than when paying per tree felled c. Drivers of heavier, safer cares are more likely to run stop signs d. workers paid an hourly wage work harder than those on commission