2. To which category of resources does each of the following belong?
- A taxicab
- Computer software
- One hour of legal counsel
- A parking lot
- A forest
- The Mississippi River
- An individual introducing a new way to market products on the Internet
3. Explain why each of the following would not be considered "free" for the economy as a whole:
- Food stamps
- U.S. aid to developing countries
- Corporate charitable contributions
- Noncable television programs
- Public high school education
5. Determine whether each of the following is primarily a microeconomic or a macroeconomic issue:
- Determining the price to charge for an automobile
- Measuring the impact of tax policies on total consumption spending in the economy
- A household’s decisions about how to allocate its disposable income among various goods and services
- A worker’s decision regarding how many hours to work each week
- Designing a government policy to affect the level of employment
7. Determine whether each of the following statements is normative or positive:
- The U.S. unemployment rate was below 5 percent in 1998.
- The inflation rate in the United States is too high.
- The U.S. government should increase the minimum wage.
- U.S. trade restrictions cost consumers $19 billion annually.
9. Discuss the impact of rational self-interest on each of the following decisions:
- Whether to attend college full time or enter the full-time workforce
- Whether to buy a new or a used textbook
- Whether to attend a local college or an out-of-town college
11. The owner of a small pizzeria is deciding whether to increase the radius of its delivery area by one mile. What considerations must be taken into account if such a decision is to contribute to profitability?