According to new growth theory
A) physical capital is nonexcludable.
B) knowledge capital is subject to increasing returns.
C) knowledge capital is rival and excludable.
D) knowledge capital is excludable.
B
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It is costly to purchase a new car every two or three years because
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If the quantity of smallpox vaccinations is determined by the market forces of demand and supply, which of the following is most likely to be true??
a. The equilibrium price and quantity will be too high for efficiency.? b. The equilibrium quantity will be too high for efficiency.? c. The equilibrium quantity will be too low for efficiency.? d. The equilibrium price will be too low for efficiency.? e. The equilibrium price and quantity will be efficient.?
The demand curve for a perfectly competitive industry is
A) downward sloping. B) horizontal. C) vertical. D) upward sloping.
When you buy newly-issued shares of Snap stock, this transaction takes place in the
A) primary market. B) bond market. C) secondary market. D) bear market.