Two policies to combat discrimination are affirmative action and right-to-work laws
a. True
b. False
Indicate whether the statement is true or false
False
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The basic reason that a competitive unregulated market produces an inefficient amount of a good with an external cost is because
A) producers cannot measure marginal social cost. B) producers do not pay the external cost. C) the general public does not care about external costs. D) external costs are not a political issue. E) the external cost is paid by consumers rather than producers.
If a consumer purchases any combination of goods and services on his ________, he will exhaust his income completely
A) indifference curve B) budget constraint C) demand schedule D) demand function
A welder loses his job because he has been replaced by a robot. He is only able to find another job at a lower skill level. The unemployment described here will most likely result in a _____ for the welder
a. loss of lifetime earnings b. loss of human capital c. deteriorating health condition d. loss of social cohesion
Intellectual property rights refer to rights an owner receives through ______.
a. libraries, schools, and training sites b. government-funded research projects c. buildings used for research or publishing d. patents, copyrights, and trademarks