In the knowledge economy
A) the supply chain has been decomposed.
B) property rights have been altered.
C) increasing returns may occur more often.
D) all of these choices.
D
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Which of the following statements is true?
A) Economic growth always reduces poverty. B) Economic growth is ineffective in reducing both poverty and inequality. C) Economic growth always reduces inequality. D) Economic growth can reduce poverty only if it is not associated with a significant rise in inequality.
The Fed's policy tools include
A) required reserve ratios, the discount rate, open market operations, and extraordinary crisis measures. B) holding deposits for the U.S. government, reserve requirements, and the discount rate. C) setting regulations for lending standards and extraordinary crisis measures. D) supervision of the banking system and buying and selling commercial banks. E) required reserve ratios, income tax rates, and open market operations.
If the social cost of producing a good or service exceeds the private cost
A) the sum of consumer surplus and producer surplus is maximized. B) a positive externality exists. C) the market achieves economic efficiency. D) a negative externality exists.
The Bureau of Labor Statistics counts underemployed persons as those who are currently working:
A. less than they would like to be. B. in a job for which they are overqualified for. C. less hours than their employer requires full-time workers to work. D. in a field that doesn’t add a lot to overall GDP.