The marginal productivity theory is irrelevant to organizing production in a socialist society
a. True
b. False
Indicate whether the statement is true or false
False
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The social costs of an activity are greater than the private costs of the activity when
A) a person does not pay all costs associated with a particular resource-using activity. B) the internal costs of the resource-using activity are less than the external costs of the activity. C) the internal costs of the resource-using activity are positive. D) the external costs of the resource-using activity are zero.
According to the U.S. Bureau of Economic Analysis, by the third quarter of 2014, foreign investors had accumulated ________ of U.S. assets.
a. $30.8 billion b. $30.8 trillion c. $24.6 trillion d. $2.46 trillion
The goal of rent control is to help the poor by making housing more affordable
a. True b. False Indicate whether the statement is true or false
In general, supply curves slope upward because:
A. the government requires that more units be produced. B. rising prices provide producers with a greater profit incentive. C. consumers buy a greater quantity. D. technology improves the ability of firms to produce more at each possible price.