Entrepreneurs are usually found in smaller firms
Indicate whether the statement is true or false
True
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Which of the following would not satisfy the potential compensation criterion?
a. The winners from a policy change could compensate the losers so everyone would be better off. b. The policy change was approved by a unanimous vote. c. The policy change was a Pareto superior move d. The policy change moved from a Pareto optimal position to a non-Pareto optimal position.
Speculation in exchange markets is often thought of as conducive to wild fluctuations in exchange rates. In practice it appears that speculators
a. have destabilized several currencies that were at sustainable equilibrium levels. b. have no effect in fixed rate systems. c. in fact tend to stabilize exchange rates rather than destabilize them. d. All of the above are correct.
An increase in taxes will cause the consumption schedule to
A. shift upward. B. shift downward. C. remain fixed as the economy moves upward along the schedule. D. remain fixed as the economy moves downward along the schedule.
Which statement is true?
A. Productive efficiency has never been achieved. B. The U.S. economy achieved productive efficiency from mid-1997 through mid-2001. C. The U.S. economy achieved productive efficiency from 1980 to 1997. D. The U.S. economy generally attains productive efficiency.