The figure above illustrates the problem of overcrowding and external costs experienced during the summer months in the state park. An efficient allocation of resources occurs at
A) point F.
B) point G.
C) point H.
D) point I.
D
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An advantage of a corporation is that
a. owners have limited liability for debt. b. the business is subject to little government regulation. c. owners pay fewer taxes than owners of other forms of business. d. owners have direct and immediate control over daily management of the business.
Why is there often resistance to free trade?
A. Free trade does not benefit the economy as a whole. B. Free trade usually hurts consumers. C. Specific groups may be hurt by free trade. D. Free trade does not benefit the global economy.
What special challenges existed for the former communist countries (Central and Eastern European countries and members of the Commonwealth of Independent States) transitioning from centrally planned economies to market-based economies? How successful have these countries been?
What will be an ideal response?
A quota is
A) a tariff imposed on goods that are dumped in the country. B) a law that prevents ecologically damaging goods from being imported into a country. C) a market-imposed balancing factor that keeps prices of imports and exports in equilibrium. D) a government-imposed restriction on the quantity of a specific good that can be imported.