Which of the following expresses 4.85%?
A. 0.485
B. 0.0485
C. 4.850
D. 0.00485
Answer: B
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Which of the following could cause an industry to be an increasing-cost industry?
a. The development of subindustries in response to industry growth. b. The factor-price effect. c. Identical break-even prices across firms. d. Substantial economies of scale in production.
Which of the following is not a policy proposal of the neoclassical counter-revolution school?
a. promoting free trade b. privatizing state-owned enterprises c. welcoming multinational corporations d. promoting trade unions
Which of the following statements is false?
A. A subsidy can be used to internalize a negative externality; a tax can be used to internalize a positive externality. B. Ronald Coase stressed the reciprocal nature of externalities. C. One way to deal with negative externalities is for government to apply regulations directly to the activity that generates the externalities. D. Simply because taxes and subsidies are sometimes used to adjust for negative and positive externalities, respectively, it does not necessarily follow that the socially optimal level of output will be reached.
The full employment level of GDP is sometimes referred to as "potential GDP."
a. True b. False Indicate whether the statement is true or false