Allocative efficiency means which of the following?
a. Producing at the lowest cost
b. Producing without waste
c. Producing what consumers prefer
d. Producing what sellers prefer
c. Producing what consumers prefer
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When net capital flows are negative,
A) capital inflows are less than capital outflows. B) net foreign investment is negative. C) capital outflows are less than capital inflows. D) A and B are both correct.
Disagreements about whether the U.S. government should regulate international trade
A) date back to the beginning of the country. B) began during the Great Depression. C) did not occur until the end of the Mexican War in 1848. D) began after World War I when government officials no longer believed in isolationism.
According to the classical system, a decrease in the income tax rate reduces the after-tax real wage
a. and shifts the labor supply schedule to the right. b. and shifts the labor supply schedule to the left. c. without shifting the labor supply schedule. d. None of the above
Which of the following describes what an IPO is?
a. the first time a firm offers its own stock for sale b. when a firm offers individuals the chance to buy its stock c. the last time a firm offers its own stock for sale d. the first time a firm buys its own stock back