When a rare skill contributes to the production of something that consumers value highly the:
A. value of the marginal product is high.
B. marginal cost per unit is low.
C. total product is high.
D. marginal product is high.
Answer: A
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To combat the financial crisis and recession which began in 2007, governments worldwide made it:
A. easier for firms and households to borrow money for investment and consumer goods. B. easier for other countries to borrow money for infrastructure projects. C. easier for firms to pay their taxes by providing a tax amnesty. D. easier for workers to purchase health insurance through their employers.
The study of how people make decisions in situations in which attaining their goals depends on their interactions with others is called
A) game theory. B) oligopoly. C) competitive analysis. D) strategic analysis.
The provision of loan guarantees can improve economic efficiency when:
A. There's a moral hazard problem among investors B. The project supported has significant external benefits C. There is regulatory capture in the industry D. The private investors are providing too much funds to the project
Governments often ________ activities that generate external ________.
A. tax; benefits B. subsidize; costs C. tax; costs D. simultaneously tax and subsidize; costs