What is the best explanation for why China and India have received so much international interest and foreign investment?
A) Their large populations
B) Their geographic location
C) Their control over natural resources
D) Government incentives provided to foreign firms
A
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Because education generates a positive externality, ______
A. everyone who wants a college education should get one B. graduates' marginal benefit exceeds the society's value of the educa-tion C. the quantity of education undertaken will achieve the social interest if it is free D. subsidies to colleges or vouchers to students are means of achieving the efficient number of graduates
A tax that causes the price that producers receive for a commodity to deviate from the buyer's price is
A. an unit tax. B. a compensated tax. C. an income tax. D. a price-distorting tax.
In an open economy, an increase in net exports because of increased demand for domestic products by foreigners should cause the domestic real interest rate to ________ and should cause desired saving minus desired investment to ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Which of the following inputs are variable in the long run?
A) labor. B) capital and equipment. C) plant size. D) all of these.