Suppose a market produces 5,000 tons of wheat. At this quantity, the marginal cost exceeds the marginal benefit. This outcome could be the result of
A) a quantity regulation limiting the amount that can be produced.
B) a monopoly.
C) a subsidy.
D) an external benefit.
E) producing a public good.
C
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Labor productivity is defined as
A) the amount of workers per unit of input. B) the amount of input per worker. C) the increase in output per unit of machinery. D) the amount of output per worker.
Commonwealth v Hunt was a pivotal case in labor history, since it marked the first time in which unions and some of their activities were not found illegal
Indicate whether the statement is true or false
Welfare data show that in the United States
a. most welfare recipients receive benefits only for a short time b. welfare encourages young women to have children c. children brought up on welfare tend to remain on welfare as adults d. having poor parents does not increase the chances of a child's being on welfare as an adult e. children of poor parents have a 50 percent chance of being middle-income adults
An adjustable-rate mortgage (ARM) is a kind of loan used to purchase a home and for which the interest rate varies or is indexed against the rate of inflation.
Select whether the statement is true or false. A. True B. False