Free trade allows firms to realize economies of scale, resulting in higher costs of production
a. True
b. False
Indicate whether the statement is true or false
False
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A government decision to privatize a sector of the economy formerly operated by the government is an example of ________ policy.
A. aggregation B. structural C. fiscal D. monetary
When you buy a corporate bond, you are
A. borrowing funds from the corporation. B. lending funds to the corporation. C. selling an ownership right in the corporation. D. acquiring an ownership right in the corporation. E. b and d
Normal profit is a term for
a. explicit profit. b. the competitive rate of return. c. the accounting profit forgone. d. pure economic profit.
In deciding whether a good is a public good, one must determine the
a. incomes of those who benefit from the good. b. value of the external benefits that accrue to resource owners. c. excludability of the good. d. All of the above are correct.