One benefit of U.S. society that encouraged entrepreneurship was the inflow of capable immigrants
a. True
b. False
Indicate whether the statement is true or false
True
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At QC, the maximum payment recreational users of the river would be willing to pay the producer for a unit change in output is
Consider the following graph of the market for chemical solvents, production of which damages a waterbody used for recreation.
a. DG b. DEH c. EH d. none of the above
If the price elasticity of demand is between -1 and - , then demand is inelastic
a. True b. False Indicate whether the statement is true or false
Robert Lucas reflects the view of many economists when he argues that the most effective way to reduce world poverty is to:
A. take money from those who are very wealthy and give to those who are very poor. B. provide loans to developing countries. C. increase long-run growth. D. eliminate recessions.
Which of the following features does a customs union have?
A. Free trade among those members with similar economic policies B. Free movement of factors of production C. Harmonization of all economic policies D. Common set of external tariffs