A possible solution to the network externality problem is the government limiting the size of networks
a. True
b. False
Indicate whether the statement is true or false
True
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A truly voluntary exchange
A) has nothing to do with values, only with things. B) is always an exchange of equal values. C) is not an exchange of equal values. D) is usually an exchange of equal values.
Labor productivity is defined as
a. the amount of output a typical worker turns out in an hour of work. b. the amount of output the best worker turns out in a day of work. c. the amount of output improvement in a year of work. d. the amount of average output improvement for a team in a year of work.
Taxes cause deadweight losses because they prevent buyers and sellers from realizing some of the gains from trade
a. True b. False Indicate whether the statement is true or false
Exhibit 1A-5 Straight line
In Exhibit 1A-5, the slope for straight line CD is:
A. 5. B. 1. C. ?1. D. ?5.