Tim goes to a design academy to become a toy designer. This is an example of
"I" an investment in human capital.
an investment in physical capital.
an increase in labor.
Which ofthe following best demonstrates the concept ofscarcity?
Explain which is the independent variable and which is the dependent variable for each ofthe following examples.
I. Once you determine the price ofa notebook atthe college bookstore. you will decide how many notebooks to buy.
Number ofnotebooks to buy Dep
Suppose the government adopts a policy that forces pesticide producers to bear
the social costs ofgroundwater contamination associated with the use oftheir
product. This policy will increase the price ofpesticides.
Since orange growers regard the pesticid
Suppose a government official is trying to decide whether or not to allow more immigration. Which ofthe following
is not an aspect ofthe economic way ofthinking that would apply in this decisionmaking process?
Responding to ince
A senior citizen gets a partitime job at a fastifood restaurant. She earns $10 per hour for each hour she worksl and she works exactly 30 hours per week. Thus. her
total pretax weekly income is 8300. Her total income tax assessment each week is $50, but s