Figure 6-1
illustrates the four possibilities of the distribution of costs and benefits among voters for a government project. For which type would the government most likely undertake many projects that would be considered inefficient or counterproductive (in other words, do too many of them relative to economic efficiency)?
a.
type A
b.
type B
c.
type C
d.
type D
b
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Refer to the above figure. Which panels represent long run equilibrium for the perfectly competitive firm and monopolistic competitive firm, respectively?
A) Panel C and Panel A B) Panel C and Panel B C) Panel B and Panel C D) Panel C and Panel D
Productivity levels are higher in rich countries compared to poor countries
a. True b. False Indicate whether the statement is true or false
Which of the following is true?
a. Investment in the stock market is a relatively foolproof method for an investor to earn a high rate of return during the next five years. b. Current stock prices already reflect information that is known with a high degree of certainty. c. Experts are able to predict changes in the direction of the broad stock market indexes with a high degree of accuracy. d. While changes in the prices of specific stocks are difficult to predict, it is relatively easy to predict the future direction of the broad stock market. e. Both c and d are true.
In an open economy, net exports will be equal to which of the following?
A) X - IM/? B) T - G C) DD D) Z E) S - I