Innovation typically increases when
A) high taxes are present.
B) the legal system is weak.
C) government controls the resource base.
D) market incentives and private property rights are encouraged.
D
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Personal income includes: a. income received in the form of transfer payments. b. wages and salaries
c. interest earnings on bonds. d. all of the above.
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is EF. If her income decreases while the price of the goods are unchanged, her new budget constraint is
A. BD. B. CD. C. AD. D. It is not shown on this graph.
Of all the constant elasticity of substitution social welfare function, only the one with elasticity of infinity will always choose the efficient outcome from a second-best consumption possibility frontier.
Answer the following statement true (T) or false (F)
Which of the following reasons explains why rich countries persistently restrict textile imports from poor countries?
A) The trade restrictions make textile consumers better off. B) The trade restrictions make workers in poor countries better off. C) The trade restrictions benefit an organized visible special interest in rich countries. D) Rich countries have a strong need for the revenue from these trade restrictions.