A legal limit on the quantity of a good that may be imported is called a(n) ________.
A. trade limit
B. import tax
C. tariff
D. quota
Answer: D
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Which is not a criticism of the marginal productivity theory of distribution?
A. It assumes that the existing distribution of ownership factors is fair and just when it may not be. B. It does not tell us much about real policy matters. C. A factor’s MRP does not in any way correspond to productive effort. D. It is inconsistent with most empirical observations.
A game in which players collectively lose is known as a
A) zero-sum game. B) positive-sum game. C) negative-sum game. D) cooperative game.
Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.Equilibrium in this market occurs at the intersection of curves S and D.
Figure 4.6Refer to Figure 4.6. If price is P1, producer surplus is area
A. A + B + E. B. B + E + G. C. G. D. A.
Refer to the table. If the price of each input is $5, the per-unit cost of production in the economy is:
Answer the question on the basis of the following information about the relationship between input quantities and real domestic output in a hypothetical economy:
A. $5.
B. $2.75.
C. $2.50.
D. $.40.