Poverty is relative and not absolute.
A. True
B. False
C. Uncertain
A. True
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To achieve faster growth, economies can increase income tax rates in order to increase saving rates
Indicate whether the statement is true or false
When misallocation of resources for production of a good results in spillover effects on third parties, there is a
A) market failure. B) government failure. C) legislative failure. D) productive failure.
Which of the following is an example of a network?
A. Wireless telephone service B. Internet C. Railroads D. All of the examples associated with this question are networks.
One difference between the short run and the long run is that perfectly competitive firms:
A. always earn positive economic profit in the short run, but never in the long run. B. can earn positive, negative, or zero economic profit in the short run, but will earn zero economic profit in the long run. C. earn zero economic profit in the short run, but will earn positive economic profit in the long run. D. always earn more economic profit in the long run.