Which of the following statements is TRUE for society as a whole?
A) Supply of services always reflects all social costs.
B) Demand for services always reflects all social costs.
C) Private costs are not always equal to social costs.
D) Social benefits are always emphasized in advertising.
Answer: C
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A basic precondition necessary to achieve economic growth is
A) a well-organized work force. B) well-functioning factories. C) a strong central government that directs the nation's research and development activities. D) a well-functioning legal system. E) well-being of society.
Which of the following trade agreements provides for the development of a single market among its members?
A. North American Free Trade Agreement B. World Trade Organization C. European Union D. Asian Pacific Economic Cooperation
Limited liability is a benefit to
A) sole proprietorships. B) partnerships. C) corporations. D) All of the above.
Decreases in the real interest rate will result in a(n):
A. decrease in net exports because it will lead to an appreciation of the dollar. B. decrease in net exports because it will lead to a depreciation of the dollar. C. increase in net exports because it will lead to an appreciation of the dollar. D. increase in net exports because it will lead to a depreciation of the dollar.