Efficient production of a public good requires
a. that individuals pay for such goods according to benefits received
b. that each individual's MRS be equal to the RPT of public goods for private goods.
c. that the sum of individuals' MRSs be equal to the RPT of public goods for private goods.
d. that governments produce at the low point of the average cost curve for the public good.
c
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Are bank lines of credit to small firms collateralized?
A) All of them are. B) Some of them are, especially if the firm is risky. C) Some of them are, especially if the firm is safe. D) None of them are.
Why is import substitution so popular as a development strategy in poor nations?
a. Domestic firms will be producing better products. b. It promotes free trade. c. It provides infant industries a protected market. d. It creates a competitive advantage for domestic firms.
If the interest rates rise, the present values of future dollars will _______.
Fill in the blank(s) with the appropriate word(s).
Primarily through land use controls and property tax policy, which of the following branches of government has the largest influence on real estate values?
A. Local government B. State government C. National government D. Foreign government