- Study guides, Class notes & Summaries

Microsoft filed a lawsuit against people who sent spam (junk e-mail) and a website owner who hosted spam services. A spokesman for Microsoft said that Microsoft was "trying to change the economics of spam" by increasing the cost of being a spammer. An economist most likely would agree with which statement about Microsoft's actions? correct answers Microsoft's approach of trying to change the costs of spamming is the most efficient way to change behavior. The marginal cost of consuming ano...

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11 pages

Written in 2024/2025

Grade A+

SirAnton

EC111 EXAM UPDATED WITH WELL ELABORATED QUESTION AND CORRECT ANSWER Some poor countries appear to be falling behind rather than catching up with rich countries. Which of the following could explain the failure of a poor country to catch up? - CORRECT ANSWER The poor country has poorly developed property rights. Two of the economy's most important financial intermediaries are: - CORRECT ANSWER Banks and mutual funds. You observed a closed economy that has a government deficit and po...

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4 pages

Written in 2024/2025

Grade A+

janetheuri

Types of Resources correct answers - Labor - Capital (Equipment) - Natural Resources - Entrepreneurial Ability Positive Economics correct answers - Assertion of fact - Law - What is Normative Economics correct answers - Opinion - Belief - What should be Law of Comparative Advantage correct answers If economies specialize and produce where they have the lowest opportunity cost, both economies can be better off. The Three Big Questions correct answers 1.) What to produce? (How m...

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6 pages

Written in 2024/2025

Grade A+

SirAnton