Writer Thomas Friedman asserts that "America is the greatest engine of innovation that has ever existed and it can't be duplicated anytime soon, because"
A. of its extreme freedom of thought.
B. of its emphasis on independent thinking.
C. of its steady immigration of new minds.
D. of all of the factors listed.
D. of all of the factors listed.
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Suppose the socially optimal output is 134 units of a good and the market output is 95 units of the good. A possible reason the market produces "too little" is that
A. marginal private benefits are less than marginal social benefits. B. marginal private benefits are greater than marginal private costs. C. marginal private benefits are greater than marginal social benefits. D. marginal private costs are greater than marginal private benefits. E. b and c
Of the many arguments in favor of tariffs, the one that has enjoyed significant economic justification has been the
A) cheap foreign labor argument. B) infant industry argument. C) even playing field argument. D) balance of payments argument. E) domestic living standard argument.
Explain what inflation targeting is. What are the advantages and disadvantages of this type of monetary policy strategy?
What will be an ideal response?
The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. evaluating the identified performance measures b. avoiding rewards for outcomes that are not included in the performance measures c. demonstrating that evaluators can be influenced with small favors d. identifying the relevant measures on which to evaluate employees