Economic rents can lead to large wage differentials.
Answer the following statement true (T) or false (F)
True
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Which of the following is not one of the key services provided by the financial system?
A) risk sharing B) liquidity C) decreasing taxes D) generating information
Which of the following is an example of the opportunity cost involved with social regulation?
a. The monetary costs of hiring administrative assistants to fill out OSHA safety reports b. The environmental costs of pollution control required under the Clean Air Act c. The monetary costs of laboratory trials required to try out a new drug d. The lives that are lost because new drugs are not introduced quickly e. The monetary cost of manufacturing a life saving drug
The market will:
a. Always provide the optimal mix of output. b. Overproduce goods that yield external benefits. c. Produce an optimal amount of goods that generate external costs. e. Underproduce goods that generate external benefits.
Compensation sent back to family in the home country by recent emigrants is known as
A. outsourcing. B. remittances. C. capital flight. D. transaction costs.