Governments can use public regulation to help solve information problems by:
A. making screening illegal.
B. mandating participation in a market or program.
C. mandating employers build a reputation before screening.
D. All of these statements are true.
Answer: B
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A country is said to have a comparative advantage in producing a good over another country if that first country
A. is a major consumer of the good. B. can produce more units of the good. C. has a lower opportunity cost of producing the good. D. is a more efficient producer of the good.
Capital, as a factor of production, refers to
A) the tools and instruments used to produce other goods and services. B) stocks and bonds, but not money. C) money, stocks, and bonds. D) the production technology used by firms. E) the production factors imported from abroad.
What rule(s) should a firm follow in deciding optimum output for profit maximization?
In 1980 the highest marginal tax rate was
A. 28 percent. B. 33 percent. C. 50 percent. D. 70 percent.