According to the AK growth model, taxes on corporate income and capital gains ________ the incentive for firms to accumulate capital and ________ the steady-state growth rate
A) increase; increase
B) reduce; reduce
C) increase; do not change
D) reduce; do not change
B
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Which of the following would be directly counted in GDP in 2016?
A) kitchen cabinets built in 1887, extracted from the 1887 home, and installed in a farm house built in 1950 B) kitchen cabinets built in 1887, extracted from the 1887 home, and installed in a brand new country-style home C) kitchen cabinets purchased from Home Depot in 2016 to be installed in a house built in 1997 D) none of the above
In a perfectly competitive market, a firm's short-run supply curve is
A) its total cost curve. B) its marginal cost curve equal to or above the point of intersection with its average variable cost curve. C) its average variable cost curve below the point of intersection with its total cost curve. D) its total cost curve between the shutdown point and the break-even point.
The basic incentive problem associated with internal transfers is that:
A. divisional managers have only public information about opportunity costs. B. divisional managers have private information about opportunity costs. C. senior management make all information about opportunity costs public. D. senior management have private information about opportunity costs.
Which of the following industries has the lowest concentration ratio?
a. breakfast cereal b. electric lamp bulbs c. household laundry equipment d. cigarettes