When deciding where to locate, businesses _____
a. will always locate in the lowest tax area
b. pay no attention to property taxes
c. might move to a high property tax area if local amenities are good
d. will always locate closest to their customer base
c
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In a perfectly competitive market, if market price is lower than the average total cost of production:
A) new firms will enter the market. B) existing firms will leave the market. C) all existing firms will earn positive economic profits. D) all existing firms will earn zero economic profits.
The downward-sloping portion of the marginal cost curve is the only portion that matters in production
Indicate whether the statement is true or false
As income increases during the recovery from a recession, automatic stabilizers will:
A. reduce taxes on high-income individuals and raise taxes on the poor, increasing economic inequality. B. increase taxes and decrease government spending, slowing the recovery. C. increase taxes and increase government spending, increasing the overall size of the government. D. reduce taxes and increase government spending, accelerating the recovery.
In terms of capabilities, education can be seen as:
A. a factor that reduces income inequality in countries. B. something that requires a lot of funding, but produces very little return. C. a feature of more democratic regimes. D. contributing to better family planning.