A Job Creation through Entrepreneurship Act, debated in the House of Representatives in 2009, would award grants to small business owners, some of which would be aimed at women, Native Americans, and veter-ans
The Act would provide $189 million in 2010 and $531 million between 2010 and 2014 . Explain how you would expect this Act to influence what, how, and for whom goods and services are produced in the United States.
The answer to the what question would change because more of the goods and services produced by the groups receiving the grants—small business owners, particularly women, Native Americans, and veterans—would be produced. If these groups of producers produced their goods and services using different technologies than the rest of the producers, then the question of how goods and services would change. For whom goods and services are produced would change because the producers receiving the subsidies would have larger profits and therefore be able to buy more of the goods and services produced.
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Computer software is an example of a good that is
a. both nonexcludable and nonrivalrous. b. nonexcludable, but not nonrivalrous. c. nonrivalrous, but not nonexcludable. d. a pure private good.
If the United States imposes an import quota on clothing, U.S. imports
a. increase, exports increase, and U.S. net exports are unchanged. b. increase, exports decrease, and U.S. net exports increase. c. decrease, exports increase, and U.S. net exports decrease. d. decrease, exports decrease, and U.S. net exports are unchanged.
Which market structure(s) is(are) considered highly concentrated?
If per capita output falls by 2 percent and population grows by 3 percent, output:
A. grows by 5 percent. B. falls by 5 percent. C. grows by 1 percent. D. falls by 1 percent.