China's pattern of economic growth can be characterized as:
a. Slow
b. Labor growing rapidly relative to capital
c. Rising capital labor ratios
d. Rapid growth of capital
e. Both c and d
E
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Paternalism is the view that ________
A) consumers do not always know what is best for them, and the government should encourage or induce them to change their actions B) producers do not always have the resources required for the production of a good, and the government should provide them with these resources C) the government should impose a tax on an economic activity only if it generates a negative externality D) the government has the supreme power to decide which goods are to be taxed and which are to be subsidized
Fill in the blank: Your authors claim ________ has been the rule rather than the exception through almost all of human history
A) price stability B) poverty C) disinflation D) wealth
If Good X has social demand that is less than market demand, then Good X must be a
A. Good suffering from the free-rider problem. B. Good with an external benefit. C. Good with an external cost. D. Public good.
Which of the following legal subjects is most concerned with the economic function of the legal system?
A) criminal law B) public goods C) antitrust legislation D) civil rights