The question of whether the public or the private sector is appropriate to provide public goods must be decided on a case by case basis
a. True b. False
a
You might also like to view...
Increasing cost industries are consistent with ________ in the long run.
A. the law of supply. B. the law of diminishing marginal product. C. the law of demand. D. None of these are correct.
The railroad companies of Pacific Union and Central Pacific were both built with massive government subsidies often on a per-mile basic in the late 19th century, which created railroad monopolies. Both failed soon after completion of their lines
The Great Northern railroad took much longer to build since it was completed without government subsidies. It turned out to be much more successful than either Pacific Union or Central Pacific. What could account for this apparent disparity?
Consider two economies: Barylia and Lithasia. The GDP per capita in Lithasia is $6,000 while the GDP per capita in Barylia is $12,000. Both countries grow exponentially at an annual rate of 10%
How will their GDPs vary over the next year? Is there any limitation of comparing the absolute levels of GDP per capita of both countries over the next years? If yes, what is a plausible solution?
Refer to Figure 1A.1. Assume that the graph in this figure represents the demand and supply curves for women's clothing. An increase in the wage rate for seamstresses would be represented by a shift from
A) Demand 1 to Demand 2. B) Demand 2 to Demand 1. C) Supply 1 to Supply 2. D) Supply 2 to Supply 1.