Market failures:
A. can always be corrected through government action.
B. lead to a desired allocation of resources.
C. are sometimes made worse by government failures.
D. can never be corrected through government action.
Answer: C
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Structuralists believe the main cause of inflation is
a. rigidities in the economy's supply capabilities b. lack of sufficient aggregate demand c. weak position of labor unions d. government intervention in financial markets e. all of the above
Wage inequality has been on the rise in virtually all high-income industrial economies since the 1970s. The causes are probably numerous, but the leading explanation for the greatest share of the increase in inequality is
A) the growth of trade with developing countries. B) the growth of trade with other high income industrial countries. C) technological change which increased the relative demand for skilled workers. D) technological change which increased the relative demand for unskilled workers. E) technological change which decreased the relative demand for skilled workers.
The project charter is formally presented to the ________ for approval.
a. Sponsor b. Project Management Office (PMO) c. Steering/Leadership Team d. Project Manager
A monopolist is maximizing profit at an output rate of 100 units per week. At this output rate, the price that its customers are willing and able to pay is $8 per unit, average total cost is $5 per unit, and marginal cost is $6 per unit. It may be
concluded that at this monthly output rate, marginal revenue is A) $5 per unit, and the monopolist earns zero economic profits. B) $6 per unit, and the monopolist earns economic profits of $200 per week. C) $6 per unit, and the monopolist earns economic losses of $100 per week. D) $6 per unit, and the monopolist earns economic profits of $300 per week.