Which of the following is not a contribution of small firms to development:
a. permit the economy to adjust to recession by hiring those laid off in the formal sector
b. create employment
c. source of training and skills
d. use little capital
e. all of the above are contributions of small firms
A
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Refer to Figure 19-3. If the Thai government pegs its currency to the dollar at a value above $.03/baht, we would say the currency is
A) undervalued. B) equilibrium valued. C) overvalued. D) parity valued.
Public goods, when left to the private market will be:
A. oversupplied. B. overconsumed. C. underconsumed. D. undersupplied.
As bookings for his catering business began to increase, David raised his rates. Then he decided to take on even more bookings than he had before. Which of the following describes his labor supply curve?
a. U-shaped b. upward sloping c. downward sloping d. backward bending
Which of the following statements is true?
a. Planned economies have fared very well in recent years, with many of these economies thriving. b. Command economies operate the most efficiently because the government makes all the production decisions. c. In a command economy, consumers answer the questions of what to produce, how to produce it, and how to distribute d. In command economies, consumers still exercise choice.