The protection of property rights leads to
A. unemployment.
B. more capital formation.
C. more illiteracy.
D. more poverty.
Answer: B
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A key reason for low foreign direct investment in developing nations is:
a. the presence of tariff and non tariff barriers on imports. b. the fear of exploitation of domestic resources by foreign owners. c. the lack of government-operated enterprises. d. the high interest rate charged on loans. e. the fear of falling inflation rates.
The curve that best helps a firm determine which output level will maximize profits is the
a. total product curve b. marginal product curve c. average total cost curve d. marginal cost curve e. average variable cost curve
The price elasticity of demand for a popular sporting event is -2. If the price of a ticket to this event increases by 10%, the quantity of tickets demanded will decrease by
A. 20%. B. 0.2%. C. 5%. D. 10%.
Refer to the following graph.
This set of cost curves is:
A. wrong because the average total cost and marginal cost curves are switched. B. correct. C. wrong because the average total cost and average variable cost curves are reversed. D. wrong because the AFC should always be downward-sloping.