The Lester-Machlup controversy applies to whether or not firms
a. choose the correct plant size
b. use marginal analysis to choose output levels
c. correctly calculate their economic profits and losses
d. engage in wasteful advertising campaigns
e. pollute the environment
B
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If the domestic producers of a good are hurt by a free trade, it suggests that the country:
A. is a net exporter of that good. B. is not able to produce that good. C. is a net importer of that good. D. has a comparative advantage in that good.
Which of the following situations best describes an individual who is cyclically unemployed?
A) Catherine is a ski instructor who is not working because it is summer. B) Matthew was an artillery man, but he has been unable to find work since he left the army. C) Nicholas was laid-off when orders for General Motors cars fell during a recession. D) Susan quit her job as a preschool teacher to try to find a better paying job.
Steve holds 100 shares of a company that currently trade at $10 . There is a 50 percent probability of the market price increasing to $15 within the next quarter. If Steve waits for the market price of shares to increase before selling them off, he would be considered risk averse
Indicate whether the statement is true or false
Under EPA regulations, a factory
a. must pay for the right to pollute. b. can increase air pollution from its grinding process if it decreases air pollution from its smelting process. c. cannot under any circumstances build a polluting factory in an area where pollution standards are not being met by existing firms. d. None of the above is correct.