Because the political institutions of many developing countries are weak:
A. it is easier for them to conduct activist economic policies that foster development.
B. it is no more difficult for them to adopt activist economic policies than it is for developed countries.
C. it is harder for them to conduct activist economic policies that foster development.
D. a laissez-faire policy is counterproductive.
Answer: C
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A deadweight loss is created
A) only if the last unit produced has a marginal social benefit greater than its marginal social cost. B) only if the last unit produced has a marginal social cost greater than its marginal social benefit. C) only if the last unit produced has a marginal social benefit equal to its marginal social cost. D) if for the last unit produced, marginal social cost is greater than its marginal social benefit or if its marginal social benefit is greater than its marginal social cost.
Refer to Table 1-6. What is Ivan's marginal cost if he decides to stay open for six hours instead of five hours?
A) $10 B) $20 C) $25 D) $91.67
In the above figure, if A is the initial equilibrium point and there is an unanticipated rise in aggregate demand from AD1 to AD2, then
A) the new short-run equilibrium will be at point B. B) the new short-run equilibrium will be at point D. C) the new long-run equilibrium will be at point B. D) real Gross Domestic Product (GDP) per year will fall below Y1.
Collusive agreements tend to break apart because the incentive to cheat is so great
Indicate whether the statement is true or false