The biggest problem thwarting economic growth in the poorest countries, compared to the richest countries, is:
A. a legal and/or political environment unfavorable to economic growth.
B. outdated physical capital.
C. insufficient human capital.
D. no access to technology.
Answer: A
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In monopolistic competition, profit is maximized by producing so that marginal revenue
A) equals price. B) is negative. C) equals marginal cost and which are less than price. D) equals average total cost but not marginal cost. E) equals marginal cost and equals price.
A single-payer system, in which the government pays for all medical expenses for everyone, would eliminate all of the following problems EXCEPT the
A. uncertainty problem. B. third-party payer problem. C. adverse selection problem. D. poverty problem.
Each nation's International Monetary Fund (IMF) quota subscription is based on
A. its public debt. B. its share in world trade. C. its national income. D. its trade surplus.
eBay has a seller reputation system to provide
A) consumers with a signal concerning seller quality. B) sellers a chance to signal other sellers concerning their quality. C) a reduction in monopoly power. D) improvements in investor relations.