Firms in Colorado dump waste into the Colorado River and as a result, people in California and Mexico cannot use the water. What type of market failure is most likely involved?
A. Public goods.
B. Externalities.
C. Market power.
D. Inequity.
Answer: B
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Each of the following is an example of capital, except
A. an office building. B. gold. C. an assembly line. D. a computer system
When the economy switches production toward services and away from manufacturing and workers in the manufacturing industry are permanently laid off
A) frictional unemployment decreases. B) structural unemployment increases. C) cyclical unemployment increases. D) frictional and cyclical unemployment increase.
Corporate governance refers to the way in which a corporation is structured and the effect that structure has on the corporation's behavior
Indicate whether the statement is true or false
Tariff rates remained high after the Civil War because government revenue needs were pressing and there were protectionist sentiments
Indicate whether the statement is true or false