Which of the following is an example of regulating quality standards?
a. Advertising bans.
b. Blue laws.
c. The minimum wage.
d. Professional licensing requirements.
d. Professional licensing requirements.
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The optimal sharing group _____
a. increases as the cost of the public good increases b. declines as the cost of the public good increases c. declines as the cost of the public good declines d. increases as the cost of the public good increases
Which resource is the main contributor to economic growth in the United States, Latin America, and South Asia?
A) growth in physical capital B) growth in human capital C) growth in labor D) growth in natural resources
Declining average total cost with increased production is one of the defining characteristics of a natural monopoly
a. True b. False Indicate whether the statement is true or false
Disposable income equals:
a. Consumption minus saving b. Saving times consumption c. Consumption plus saving d. Saving divided by consumption