An industry that has increasing returns to scale and fixed factor prices will have a long-run supply curve that is:
A. Vertical
B. Horizontal
C. Upward-sloping
D. Downward-sloping
D. Downward-sloping
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The figure shows the market for college education. In order for the efficient amount of education to occur, the government could provide a voucher of ________ per student
A) $4,000 B) $8,000 C) $12,000 D) $20,000 E) $16,000
"When the cost of producing a unit of a good falls because the firm uses specialized resources to produce a range of goods and services" is the definition of
A) economies of scope. B) economies of scale. C) economic efficiency. D) technological efficiency.
What regulatory change did Congress approve in 2010 to reduce counterparty risk in the shadow banking system?
A) push more trading of derivatives onto exchanges B) required investment banks to follow the same rules on leverage as commercial banks C) require increased collateral for those trading derivatives D) banned trading of mortgage-backed securities
When pollution emissions can be measured, taxation will tend to be more effective than any other method of controlling pollution.
Answer the following statement true (T) or false (F)