Government intervention can be productive and efficiency enhancing:
A. whenever it regulates a market.
B. in markets for public goods and common resources.
C. because the government always acts with altruistic motives.
D. except in markets for public goods.
B. in markets for public goods and common resources.
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When the marginal revenue product of an input is less than its price, the
A. producer should expand the use of that input. B. price of the input will automatically rise in a free market. C. producer should reduce the use of that input. D. marginal physical product of that input must be below its average physical product.
A creator of a sculptural work who wants to protect their intellectual property would apply for which of the following?
A) a trademark B) a patent C) a trade secret D) a copyright
Since real GDP is adjusted for inflation and nominal GDP is not, nominal GDP must always be higher than real GDP. Do you agree or disagree? Why?
What will be an ideal response?
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. Prior to the imposition of the payroll tax, this labor market ________ at a wage of $7.00 and employment of 800 workers.
A. was paying too high a wage rate B. was employing too many workers C. was employing too few workers D. was in equilibrium