The hidden opportunity cost of using protectionism to save jobs in one industry is the sacrifice of jobs that are not created in other industries
a. True
b. False
Indicate whether the statement is true or false
True
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Because knowledge capital is nonexcludable and nonrival, firms have an incentive to ________ the research and development of other firms
A) free ride on B) ignore C) not use D) make bids on
In a perfectly competitive market the long-run demand and supply curves are Q = 12 - P and Q = 5P respectively. Producer surplus in this market equals
A) 0. B) 5. C) 10. D) It cannot be determined without more information.
If Atlantis has an open economy, then it:
A. has a democratically elected government. B. does not trade with other countries. C. allows imports but not exports. D. trades with other countries.
An increase in taxes and a decrease in government spending would be characteristic of a contractionary fiscal policy.
Answer the following statement true (T) or false (F)