Which of the following countries had the highest percentage of young adults with a college degree in 2012?
a. Norway
b. Canada
c. Japan
d. France
e. Italy
b
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Underproduction compared to the efficient amount implies that for the last unit produced
A) marginal social benefit exceeds marginal social cost. B) marginal social benefit equals marginal social cost. C) marginal social cost exceeds marginal social benefit. D) the deadweight loss is zero.
How do we know when a market is contestable?
What will be an ideal response?
Which of the following is not a problem with subjective performance evaluations?
A. Shirking among supervisors B. Use of influence to bias outcomes C. Forced distributions of results by upper management D. Ability to rank employees on a standard rating scale
The economizing problem for society is:
a. That product prices rise more rapidly than incomes of consumers b. To establish prices which are fair for both producers and consumers c. To achieve a more equitable distribution of income in society d. That productive resources are scarce relative to economic wants