Which of the following is an example of a public good?
A. Amtrak rail transport services
B. the provision of medical care
C. services of the U.S. Post Office
D. the provision of national defense
Answer: D
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The demand curve for the perfectly competitive industry normally slopes downward, unlike the perfect competitive firm. Why?
What will be an ideal response?
The increased costs of transactions caused by inflation are known as _____
a. menu costs b. shoe-leather costs c. unit-of-account costs d. direct costs
The corporate decision on type and level of R&D activity is difficult because:
A. the interest-rate cost of funds is difficult to estimate. B. much of corporate R&D is based on the pursuit of science, not on the profit motive. C. expected returns lie in the future and are highly uncertain. D. total returns and marginal returns greatly diverge.
China has few state-owned enterprises left in its economy
Indicate whether the statement is true or false