Randomized control trials can help economists evaluate the impact of global aid programs in the same way that doctors test drugs
a. True
b. False
Indicate whether the statement is true or false
True
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Obstacles that make it difficult or impossible for would-be producers to enter a market are known as:
A.) Barriers to entry. B.) Monopoly profits. C.) Entry blockades. D.) Entry tariffs.
Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. Country B has an absolute advantage in the production of ProductivityCountry ACountry BGood X1.000.50Good Y0.200.70
A. only Good X. B. neither Good X nor Good Y. C. only Good Y. D. both Good X and Good Y.
Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 6 hours per day. If he is following the marginal principle, what must his marginal cost per hour be?
A. $16 B. $24 C. $32 D. $48
When the Times Mirror Company purchased the right to discharge 150 tons of hydrocarbons annually from other polluters, this was an example of
A. following an incentive-based regulation. B. following a command-and-control regulation. C. conducting a transaction between polluters typical of those that have been carried out since the early 20th century. D. an illegal transaction.