Corporations obtain funds when their previously issued stock is traded
a. True
b. False
Indicate whether the statement is true or false
False
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In perfect competition, marginal revenue
A) increases as more is sold. B) decreases as more is sold. C) is equal to the market price. D) is zero. E) is always greater than marginal cost.
Suppose scientific research generates external benefits. Without government intervention, the market for scientific research would
A) produce the efficient amount. B) produce more than the efficient amount. C) produce some research, but less than the efficient amount. D) produce zero research. E) either produce more than or less than the efficient amount depending on whether the external benefit is on the production or consumption of the research.
Which of the following is a good example of a trade-off?
A) The government pleases environmental
activists by preserving public lands but also
pleases ranchers by allowing them to rent
public lands for grazing purposes.
B) The government pleases environmental activists
by reintroducing wolves to Yellowstone
National Park but angers ranchers by placing
their cattle in danger.
C) The government pleases oil companies by
allowing them to drill on lands set aside for
conservation but allows environmental activist
groups to protest the drilling operations.
D) Groups that represent a variety of conflicting
interests are all allowed to protest outside
Congress and the White House.
A necessary condition for a separating equilibrium when workers can use education as a signal of their ability is
A) the high-ability wage is larger than the sum of the degree cost plus the low-ability wage. B) the cost of a degree is larger than the low-skill wage. C) the high-ability wage is smaller than the low-ability wage. D) the high-skill wage is equal to the cost of a degree.