Some pet owners are using an "invisible fence" to keep their animals from straying. Every time the animal steps over the edge of the property, it gets a mild shock. A social scientist would call the shock
A) a bribe.
B) a reward.
C) a disincentive.
D) a normative incentive.
C
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GDP includes the goods and services produced
A) within a country's borders by citizens and by non-citizens minus the production abroad by the country's citizens. B) within a country's borders by citizens and by non-citizens. C) by a country's legal citizens regardless of where in the world they are located. D) by a country's citizens but not by non-citizens within the country's borders. E) within a country's borders by citizens and non-citizens plus goods produced abroad by the country's citizens.
Suppose a production possibilities frontier (PPF) has been plotted on a graph. If the horizontal axis of the graph measures the output of capital goods and the vertical axis measures the output of consumer goods, then a point outside the PPF represents: a. a smaller quantity of consumer goods than that represented by a point inside the PPF. b. an inefficient output combination of the two goods
in the economy. c. an unattainable output combination of the two goods in the economy. d. an output combination of more consumer goods than capital goods. e. a smaller quantity of capital goods than that represented by a point inside the PPF.