Clustering:
a. occurs when government resources are diverted toward one particular sector of the economy
b. takes place when new firms enter regions already thick with other firms in the same or similar industries.
c. occurs when there is a single firm in the economy that can charge different prices for the same product.
d. implies that consumers with similar tastes and preferences tend to stay in the same region.
e. occurs when all the firms in the industry sell identical commodities and charge identical prices for these commodities.
b
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Which of the following might increase the MB of eliminating lead pollution in water?
A. Companies are producing less and therefore polluting less in the water. B. Fewer people suffer from the effects of lead pollution. C. A new study found out that lead is even more dangerous than previously thought. D. Companies have found a cheaper way to decrease lead pollution.
One of the tools of monetary policy is to change the discount rate. Since 2003
A) the Fed has not changed the discount rate. B) the Fed has pegged the discount rate to the reserve requirement. C) the Fed has kept the discount rate a fixed amount above the federal funds rate. D) the Fed has kept the federal funds rate one percentage point above the discount rate.
You acquire human capital by:
A. getting an education. B. investing in health care. C. gaining experience in jobs. D. All of these are true.
If a water-slide park opens to the public in your neighborhood and an admission fee is charged, then the park is a
a. public good b. private good c. good that everyone wants d. nonrival good e. nonexclusive good