Investment spending, in economic terms, includes spending toward physical capital, machinery, new factories, and new housing.
Answer the following statement true (T) or false (F)
True
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A price ceiling that sets the price of a good below market equilibrium will cause:
a. An increase in quantity demanded of the good. b. A decrease in quantity supplied of the good. c. A shortage of the good. d. All of these.
A firm produces 60 units of output with 5 workers, 65 units with 6 workers, and 68 units with 7 workers. The firm's production function exhibits diminishing marginal productivity between 5 and 7 workers
a. True b. False Indicate whether the statement is true or false
The data in the table show the marginal costs and marginal benefits to a city for five different levels of pollution control.Quantity of Pollution AbatementMarginal CostMarginal Benefit900 tons$400,000$100,000800 tons300,000150,000700 tons200,000200,000600 tons100,000250,000500 tons50,000300,000Refer to the above table. If the city seeks an optimal reduction of the externality, then it will select how many tons of pollution abatement?
A. 500 B. 600 C. 700 D. 800
Which of the following countries does not come close to the free market benchmark?
A) the United States B) Japan C) Cuba D) France