Which of the following does not contribute to a pro-business climate for investors?
A. Secure property rights.
B. Minimal government regulation.
C. High tax rates.
D. Legalized profit.
Answer: C
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Selling costs, such as advertising, are likely to be a large share of total cost in an industry that is
A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) non-profit.
The GDP can overstate the economy because ___________.
a. it excludes self-production, increased leisure time, and improved health. b. it includes self-production, increased leisure time, and improved health. c. it excludes harm caused by pollution, crime, and income inequality. d. it includes harm caused by pollution, crime, and income inequality.
The transactions motive for holding money reflects the behavior of people who hold money
a. instead of near money b. to transact purchases they expect to make c. as insurance against unexpected needs d. to speculate in the stock market e. to take advantage of changes in interest rates
Which is true?
A. Production functions consider only the value added part of a particular production process. B. Production functions count raw materials, but not labor, as inputs into the production process. C. Production functions do not count technology into the production process. D. Production functions are as subjective as utility functions.