U.S. government policy to stimulate research and development activities would be most likely to succeed if it involved
a. interest rate policy.
b. corporate tax policy.
c. personal income tax policy.
d. payroll tax policy.
b
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Any production point outside the production possibilities frontier is
A) unattainable. B) associated with unused resources. C) attainable only if prices fall. D) attainable only if prices rise.
The principle of diminishing marginal utility can potentially be used to support policies that redistribute income. This principle suggests that increases in income for an individual will generate less additional happiness the higher the level of income
a. True b. False Indicate whether the statement is true or false
Are common resources excludable? Are they rival in consumption?
Rising prices of resources leads to inefficient resource use by industry.
Answer the following statement true (T) or false (F)