What do economists call the loss society experiences when there is market failure and the production of a good is less than the efficient amount?
A) tax
B) subsidy
C) price floor
D) deadweight loss
E) quantity restriction
D
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When yield curves are flat
A) long-term interest rates are above short-term interest rates. B) short-term interest rates are above long-term interest rates. C) short-term interest rates are about the same as long-term interest rates. D) medium-term interest rates are above both short-term and long-term interest rates.
A monthly growth rate of 0.5% is an annual growth rate of:
A. 6.50% B. 6.17% C. 5.00% D. 6.00%
Domestic law and order, the infrastructure, and the climate of international trade are all aspects of a country's:
A. natural resources endowment. B. human resources investment. C. capital investment. D. political environment.
Time lags between the production decision and the resultant harvest contribute to
A. Price stability. B. Price instability. C. Loss. D. Profit.