The domestic market failure argument is a particular case of the theory of
A) the optimum, or first-best.
B) the second best.
C) the third best.
D) the sufficing principle.
E) the efficiency case for free trade.
B
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What is Total Quality Management (TQM)?
A) a philosophy of supplying customers with superior products and services B) an exchange of information with suppliers and customers to create efficient and effective processes C) a software system that integrates a company's functions, departments, and data into a single system D) a system that speeds the transformation of raw materials into finished products
If the producer surplus in a market for a good is $36 and the consumer surplus in the market for the same good is $9, the social surplus in the market is ________
A) $4 B) $27 C) $45 D) $324
During 2005, the tax rate on the top income bracket in the U.S. tax system was _____
a. 28 percent b. 31 percent c. 35 percent d. 39 percent
In 1931, President Herbert Hoover was paid a salary of $75,000 . Government statistics show a consumer price index of 15.2 for 1931 and 237 for 2015 . President Hoover's 1931 salary was equivalent to a 2015 salary of about
a. $4,965. b. $1,169,408. c. $1,057,894. d. $16,080,001.