When gas prices rise sharply, as they did in 2007-2008, the “incentives matter” postulate of economics indicates that

Which of the following is a secondary effect of government action that levies taxes on some in order to transfer income to others?

The basic postulate of economics indicates that changes in incentives influence

Central planning is an ineffective method to organize an economy because

The unemployment rate is calculated by:

Your opportunity cost of attending a baseball game is

Private entrepreneurs are likely to make better investment decisions than central planners because

The price of an airline ticket from St. Louis to Washington D.C. costs $250. A bus ticket costs $100. Traveling by plane takes 2 hours compared with 32 hours by bus. Other things constant, Andrew would gain by choosing air travel if, and only if, he values his time at more than

Which of the following provides young people with a strong incentive to make regular payments into a retirement program and invest these funds in a diverse set of stocks?

How does the invisible hand principle explain why self-interested individuals will generally pursue activities that benefit others?