Economic growth in less-developed countries comes at the cost of
a. higher taxes
b. lower current consumption
c. lower taxes
d. lower government spending
e. lower future consumption
B
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For any resource it hires, a firm's marginal revenue product
a. is the change in the firm's total cost divided by the change in employment of that resource b. equals the resource's marginal factor cost c. equals marginal cost d. is the change in the firm's total revenue divided by the change in employment of that resource e. equals the change in the firm's marginal revenue
Which statement is true?
A. Industry X is more concentrated than Industry Y.
B. Industry Y is more concentrated than Industry Z.
C. Industry Z is more concentrated than Industry X.
D. Industries X, Y, and Z have the same concentration ratio.
Which of the following is heavily subsidized by state and local governments?
A) Medicare B) Social Security C) public education D) food stamps
Many economists note that the shortage of organs is, at least in part, attributable to the fact that the price of organs is
A. determined by market forces. B. right at equilibrium. C. fixed at zero. D. kept too high.