Which of the following is not important for the development of human capital?
A. High levels of military spending.
B. Immunizations and basic health care.
C. Access to water and sanitation.
D. Educational opportunities.
Answer: A
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Which of the following is most likely to benefit from government established price floors in agriculture?
A) large farm owners and corporate farms B) small farmers C) cattle ranchers D) low income farmers
The simpler a production process is,
a. the greater the cost of production b. the greater the transaction cost of using markets c. the more likely a firm will use the market to organize production d. the more likely a firm will used centralized control to organize production e. the more likely that transaction costs increase by using centralized control of production
Suppose two corporate bonds with similar risk pay different rates of return. The process of arbitrage should:
A. not affect their rates of return. B. increase the return on the asset with the higher rate of return as the demand for it increases. C. increase the gap between the two rates of return. D. eventually equalize their rates of return.
Traffic congestion is an example of a(n)
A. government failure. B. externality. C. economy of scale. D. public good.