Which of the following statements is FALSE?
A. The United States' international competitive position has been helped by its long history of widespread entrepreneurship.
B. When it comes to overall productive efficiency, compared to Japan, Germany and the rest of the European Union, the United States lags far behind.
C. Economic restructuring and investments in information technology have added to productive efficiency in the United States.
D. Sophisticated financial systems have given U.S. productive efficiency a boost.
Answer: B
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Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold, the government's revenue from the tax
A) is larger if the supply curve is S0. B) is identical under either supply curve. C) is larger if the supply curve is S1. D) is not maximized.
A monopolist faces a downward-sloping demand curve because:
a. the demand for its product is inelastic. b. the industry demand curve is horizontal. c. resource prices increase as the monopolist expands output. d. the entire market demand curve is the monopolist's demand curve.
If depreciation exceeds gross investment,
A. The difference between GDP and NDP is smaller than gross investment. B. The nation's capital stock is decreasing. C. The nations capital stock is increasing. D. Net investment exceeds depreciation.
When universities announce a large tuition increase and follow it with an announcement that more financial aid will be available, they are assuming that students who pay full tuition:
A. Have elastic demand and students who use financial aid have inelastic demand B. Have inelastic demand and students who use financial aid have elastic demand C. View a college education as an inferior good and students who use financial aid view it as a normal good D. View a college education as a normal good and students who use financial aid view it as an inferior good