Which of the following is not an example of a socio-cultural impediment to economic growth?
A. Tribal allegiances that take precedence over national unity
B. Religious beliefs and practices that severely limit economic activity
C. Migration of labor resources from agricultural to urban areas
D. The existence of a system for allocating jobs based on caste or tradition
C. Migration of labor resources from agricultural to urban areas
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Suppose a monopolist has zero marginal cost but positive recurring fixed costs. Then, if it is efficient to produce, the efficient quantity to produce occurs where demand crosses the horizontal (quantity) axis.
Answer the following statement true (T) or false (F)
When the firm produces the quantity that sets marginal revenue equal to marginal cost, a perfectly competitive firm is
A) determining the price it will set. B) maximizing its revenues. C) maximizing its profit. D) establishing its shutdown point.
If the national debt is owed entirely to U.S. citizens,
a. paying off the debt will necessarily stimulate growth. b. future interest payments on the debt are not a burden to the nation as a whole. c. future economic growth will necessarily be slowed. d. the debt constitutes a burden to these citizens.
If a monopolist is able to practice perfect price discrimination, there will be no deadweight loss.
Answer the following statement true (T) or false (F)