Many of the world's poorest nations have Gini coefficients lower than in the U.S
Indicate whether the statement is true or false
F
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Which of the following statements brings out the relationship between the value of marginal product (VMP) and the marginal revenue product (MRP)?
a. They are the same for a firm selling in a perfectly competitive market structure. b. They are the same for a firm purchasing inputs in a perfectly competitive market structure. c. VMP is greater than MRP when a firm is perfectly competitive in the product market. d. VMP is less than MRP when a firm is perfectly competitive in the product market. e. They are same when a firm is a monopolist.
When indirect business taxes are subtracted from GDP we get net national product of a nation
a. True b. False Indicate whether the statement is true or false
Tariffs are considered to be a popular tax in the first world countries, who justify them on the basis of the revenue they generate for government spending
a. True b. False Indicate whether the statement is true or false
If the government wants to regulate a natural monopoly, it will force the firm to set price equal to
A) average cost. B) marginal cost. C) marginal revenue. D) None of the above.