All externalities
a. cause markets to fail to allocate resources efficiently.
b. cause equilibrium prices to be too high.
c. benefit producers at the expense of consumers.
d. cause equilibrium prices to be too low.
a
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What is "human capital"? How is it important in the determination of a worker's wage rate?
What will be an ideal response?
People from which nation in Europe were most likely to come to colonial North America as redemptioners?
a. Italy. b. Holland. c. Germany. d. France.
Proponents of the view that the higher rate of productivity growth since 1996 is part of a long-run trend argue it is
a result of a. employers forcing more output from workers, who have become victims of new technologies. b. the shrinkage of the labor force, so that output per worker is rising. c. the rise of employment in the highly productive manufacturing sector. d. a continuing increase in the use of computers and other kinds of information technology.
What is the difference between shutting down and exiting a market?
a. Shutting down means to leave temporarily; exiting means to leave permanently. b. Shutting down means to close some operations; exiting means to close all operations. c. Shutting down means to leave permanently; exiting means to leave temporarily. d. Shutting down means to close all operations; exiting means to close some operations.