The message that market economies will inevitably fail is associated with:
a. Marx
b. Samuelson
c. Kornai
d. Olson
e. Hayek
A
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The economic efficiency approach to emission control provides the polluting firm with
a. a license produce as much emissions as it wants b. the option of choosing between focusing on profit or cost c. a process for determining the optimum quantity of emissions d. more flexibility in selecting the most cost effective method of control e. a subsidy for producing additional emissions
Along a straight-line demand curve, why does the price elasticity of demand grow steadily smaller as we move from left to right?
The economy of Carl’s country is growing at a rate of 1.75 percent per year. The economy of Miska’s country is growing at a rate of 3 percent per year. Approximately how much longer than Miska’s country will it take for the economy of Carl’s country to double?
a. 1.25 years b. 16.7 years c. 56 years d. 40 years
According to the Solow model, can a country have capital deepening without any limit?
What will be an ideal response?