Which of the following are considered market failures?
A. Monopoly.
B. Externalities.
C. The lack of public goods and services.
D. All of the choices are considered market failures.
D. All of the choices are considered market failures.
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Economic theory
A. is a deliberate simplification of factual relationships. B. seeks to disprove a hypothesis. C. is based mainly on assumptions. D. seeks to prove political ideals.
A sales tax is
A) a tax assessed on personal income. B) a tax assessed on the prices paid for numerous goods and services. C) a tax assessed on a public good. D) the total tax base.
The owners of which type of firm have the most liability?
A. Limited partnership. B. Partnership. C. Proprietorship. D. Corporation.
The demand for a productive resource is said to be "derived" because the demand for the factor:
A. Depends on the demand for the product it helps to produce B. Depends on the demand for a complementary factor C. Is derived from the state of the economy D. Is derived from government policy