Use the information provided in Table 7.4 below to answer the question(s) that follow.
Table 7.4Inputs Required to Produce a Product Using Alternative TechnologiesTechnologyUnits of CapitalNumber of EmployeesA 836B 1224C 1616D 24 12Refer to Table 7.4. Which technology is the most capital intensive?
A. A
B. B
C. C
D. D
Answer: D
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Price discrimination by a monopolist is less effective if the
A) good can be resold. B) good has no substitutes. C) monopolist can identify buyers by willingness to pay. D) good cannot be resold.
Which of the following uses of tax revenues collected by the government leads to increased capital deepening?
A) Medicare payments B) Social Security payments C) increased foreign aid D) building roads
The data in the table above are the U.S. balance of payments. The current account balance is
A) $140 billion. B) $155 billion. C) $170 billion. D) -$45 billion.
Monopolies misallocate resources because
A) price does not equal marginal cost. B) price does not equal average variable cost. C) marginal cost does not equal average total cost. D) profits are usually positive.