When the government enacts policies to make the distribution of income more equitable, it distorts incentives, alters behavior, and makes the allocation of resources less efficient
a. True
b. False
Indicate whether the statement is true or false
True
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The minimum wage may cause businesses to hire fewer workers, and this results in structural unemployment
Indicate whether the statement is true or false
Which of the following is a disadvantage of trademarking a firm's product?
A) A trademark may become so widely used to denote a particular type of product that the trademark may no longer be a legally protected brand name. B) A trademark conveys information about the product to the public. C) A trademark differentiates a firm's product. D) A trademark does not affect demand for the firm's product.
In the short run,
a. all of the firm's input quantities, including plant size, become adjustable. b. firms are not constrained by past decisions. c. firms have relatively little opportunity to change production processes. d. all of the firm's current commitments come to an end.
Which one of the following interest groups would gain from the imposition of a quota on United States steel imports?
A. United States firms that build skyscrapers of steel and glass. B. Steelworkers in Pennsylvania and Ohio. C. United States industries that use farm equipment and machine tools. D. Foreign producers who sell steel in the United States.