The U.S. experience with the rise and fall of its railroad industry illustrates that central planners are less likely than private investors to allocate investment funds into wealth-creating projects
Indicate whether the statement is true or false
True
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A government seeking to raise revenue would be most likely to tax a good
a. having a high income elasticity of demand b. with a low cross elasticity of demand c. having a high price elasticity of demand d. with a low income elasticity of demand e. having a low price elasticity of demand
The exchange rate is a key price that affects international trade flows of goods and services and international financial flows.
Answer the following statement true (T) or false (F)
A government-inhibited good is one that
A. would be underproduced by the private market. B. cannot be individually consumed. C. should be subsidized to correct the market failure and productive inefficiency. D. has been deemed socially undesirable via the political process.
If neither firm has a dominant strategy, a Nash equilibrium cannot exist
Indicate whether the statement is true or false