Refer to the above figure. Average total costs are represented by curve
A. 1.
B. 2.
C. 3.
D. 4.
Answer: B
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Externalities are failures of
A. the market to correctly price resources. B. firms and consumers to make rational tradeoffs. C. firms to make rational tradeoffs. D. consumers to make rational tradeoffs.
The "New Deal" programs of the 1930s aimed at
(a) transforming American capitalism into a planned socialist economy. (b) introducing short-term measures to cure the depression but no fundamental changes in the American economy. (c) introducing measures to deal with the crises and cure the depression combined with measures to restructure important aspects of the economy and increase the role of government in it. (d) reintroducing laissez-faire policies (non-government intervention) like those that had worked in the 19th century.
Local governments rely almost exclusively upon sales taxes for revenue
Indicate whether the statement is true or false
The Islamic waqf is:
a. a permanent trust b. the founder's instructions can be changed at will c. no different from a western corporation d. requires interest payments e. both a and b are correct