The problem associated with endangered populations of migratory birds is the
A) common property problem.
B) free rider problem.
C) deadweight loss problem.
D) inefficient production problem.
A
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It is easier to avoid state and local taxes than federal taxes.
A. True B. False C. Uncertain
The difficulty in analyzing oligopolistic behavior arises from the
A. degree of government regulation of the market structure. B. interdependent nature of oligopolistic decisions. C. large number of firms in the industry. D. market power of consumers.
Economic profits and losses are true market signals because they
A) convey information in an asymmetrical fashion. B) convey information about rewards people should anticipate experiencing by shifting resources from one activity to another. C) convey information to public officials about where to encourage people to invest and what skills people should develop. D) cause people to move into careers in both undesirable and desirable industries with equal ease.
If the economy is represented in the graph shown and is currently at point E2, what could be said about the state of the economy?
A. There is higher unemployment than the natural rate.
B. There is lower unemployment than the natural rate.
C. The unemployment rate is just about the natural rate.
D. The unemployment rate is zero.