The text mentions 10 sources of U.S. comparative advantage. Which of the following is not one of them?
A. The fact that English is the international language of business
B. Extensive natural resources
C. A substantial policy to limit immigration
D. Wealth from past production
Answer: C
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The neoclassical theory of investment says both real interest rates and taxes are important determinants of investment
Indicate whether the statement is true or false
The market supply curve is also the
A) marginal social cost curve. B) marginal value curve. C) marginal social benefit curve. D) maximum-supply-price curve.
A firm that generates pollution is illustrated in Figure 9.7. If the government imposes a pollution tax equal to P2 and the firm chooses abatement level A3:
A. the marginal cost of abating is greater than the marginal benefit of abating. B. the marginal benefit of abating is greater than the marginal cost of abating. C. the firm is choosing optimally. D. the firm is in violation of environmental protection laws.
The elasticity of demand for labor will be less the
A) longer the time period. B) easier it is to substitute one input for another. C) less the demand elasticity for the final product. D) larger the share of total costs accounted for by labor.