Most corporate executives are reluctant to pursue R&D spending because
A. the risk of failure is so high.
B. the social return is too low.
C. the average private return is too low.
D. there are too many regulations.
Answer: A
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Modern antitrust policy began in response to
a. abuses of market power in the oil industry. b. the inability of railroads to compete effectively with the new trucking industry. c. the charge that the rights of big business were not adequately protected. d. attempts by business leaders to pack Congress with corrupt legislators.
Public choice economists often explain low voter turnouts in terms of
A) dissatisfaction of many voters with the limited choice of candidates. B) lack of civic responsibility of the electorate. C) net costs of voting that many voters perceive. D) rational ignorance of many voters of the actual date of the elections.
If a poor country is going to grow rapidly and achieve a high level of per capita income, which of the following is most important?
a. abundant natural resources
b. substantial aid from rich countries
c. central planning and a high level of government expenditures
d. institutions and policies that encourage productive activities
Which of the following statements is true?
A. The smaller a nation's marginal propensity to save, the smaller the open-economy multiplier. B. The smaller a nation's marginal propensity to export, the larger the open-economy multiplier. C. The larger a nation's marginal propensity to import, the larger the open-economy multiplier. D. The larger a nation's marginal propensity to consume, the larger the open-economy multiplier.