According to new growth? theorists, increased population growth rates can lead to faster economic growth because
What will be an ideal response?
the larger the market the more incentive there is to innovate.
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The disagreement value in a nonstrategic game is most closely related to
a. opportunity costs b. fixed costs c. total profit d. accounting costs
When a tax is present in a market, the price paid by consumers:
A. equals that received by suppliers, but it is higher than the market price in the absence of taxes. B. is greater than that received by suppliers. C. is less than that received by suppliers. D. equals that received by suppliers, but it is lower than the market price in the absence of taxes.
Which of the following offers theories to explain why the government, like the private sector, may also "fail"?
A. social economics B. public choice theory C. rational expectations theory D. Keynesian economics
The argument that import restrictions save jobs and promote prosperity fails to recognize that:
A. there are no secondary effects of import restrictions. B. import restrictions will lower prices in the protected industries. C. import restrictions cannot create jobs in any industries. D. U.S. imports provide people in other countries with the dollars power required for the purchase of U.S. exports.