EBK MICROECONOMICS: PRIVATE AND PUBLIC
16th Edition
ISBN: 8220103612142
Author: Gwartney
Publisher: Cengage Learning US
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Chapter 8, Problem 2CQ
To determine
The statement related to sound economic thinking.
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Which of the following statements do you think reflect sound economic thinking? Explain your answer.
“I paid $1,800 for this economics course. Therefore, I’m going to attend the lectures even if they are useless and boring.”
“Because we own rather than rent, and the house is paid for, housing doesn’t cost us anything.”
“I own 100 shares of stock that I can’t afford to sell until the price goes up enough for me to get back at least my original investment.”
“Private education is costly to produce, whereas public schooling is free.
If the stock market in the United States is efficient, how do you explain the fact that some people make very high returns? Would it be more difficult to reconcile very high returns with efficient markets if the same people made extraordinary returns year after year?
“may be economically efficient but reduces equity” is wrong, so what is the answer to this question?
Chapter 8 Solutions
EBK MICROECONOMICS: PRIVATE AND PUBLIC
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- Refer to the Front Page article to answer one question. FRONT PAGE Recycling Wastes Money New York City is spending $57 million a year to recycle metal, glass, and plastic Mayor Bloomberg says that's way too much, especially when the city is cutting police and fire budgets. The mayor says the city could save a lot of money by simply sending the waste to landfills rather than recycling it The city spends about $240 per ton to recycle waste, while the cost of sending the waste to landfills is about $130 a ton. As he sees it, "You could do a lot better things in the world with $57 million." The mayor axed the recycling program from the city's proposed 2003 budget Source: News reports, March 2002 How much more per ton is New York City paying to recycle rather than just dump its garbage? Instructions: Enter your response as a whole number. 240 per tonarrow_forwarda good example of a resource would be? a. stocks b. Human capital c. bonds d. intital public offering.arrow_forwardWhich of the points are feasible and which are efficient?arrow_forward
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