Mexico and India have a fairly large number of engineers and technical personnel, which means that new technology can be adapted relatively quickly
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose a firm has one variable input, labor. Why is the MRPL curve for a competitive firm above the MRPL curve for a monopolist?
A) Without competition from other firms, monopolies are less efficient and the marginal product of labor is lower at each level of output. B) Although the marginal product of labor may be the same under both market structures, the marginal revenue of the monopoly declines with output. C) Monopolists have less incentive to invest in worker training and other methods for improving labor productivity, so the marginal product of labor is lower in the monopoly case. D) none of the above
The purpose of deregulating banks during the 1980s was to: a. eliminate the risk that banks incurred
b. allow banks to compete with other financial institutions. c. allow U.S. banks to compete with foreign banks. d. help consumers earn more interest. e. decrease the cost of banking regulation.
Government programs such as Medicare substantially subsidize health care purchases by some consumers in the U.S. economy. Who benefits from these subsidies? How do they affect the price of health care? If you are not a recipient of this program, are you made better or worse off by the subsidy? Explain
The granting of small, unsecured loans to small businesses and entrepreneurs is known as
A. Growth finance. B. Long-term finance. C. Microfinance. D. Extreme finance.