When a collective consumption good become congested _____
a. nothing happens
b. it moves closer towards being a purely private good
c. free riding becomes more of a problem
d. exclusion becomes impossible
b
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Historically, the high level of taxation on dividends relative to capital gains or interest led to _____
a. lower levels of corporate dividends b. higher levels of corporate dividends c. no changes in corporation behavior d. fewer incorporations
If when the money supply changes, real output and velocity do not change, then a 2 percent increase in the money supply
a. decreases the price level by 2 percent. b. decreases the price level by less than 2 percent. c. increases the price level by less than 2 percent. d. increases the price level by 2 percent.
If the opportunity cost of manufacturing machinery is lower in the United States than in Britain and the opportunity cost of manufacturing sweaters is higher in the United States than in Britain, then the United States will:
A) export both sweaters and machinery to Britain. B) import both sweaters and machinery from Britain. C) export sweaters to Britain and import machinery from Britain. D) import sweaters from Britain and export machinery to Britain.
Table 25.2Pool SweeperOutput (Revenue)Market Share (%)North Star$20,000 Hurricane$16,000 Blue Lagoon$2,000 Clean Sweep$2,000 Refer to Table 25.2. Assume there are only four firms in the pool sweeper industry. The U.S. Justice Department would most likely
A. Not allow any mergers among firms in this industry. B. Allow a merger between Blue Lagoon and Clean Sweep. C. Allow a merger between North Star and Blue Lagoon. D. Allow a merger between Hurricane and Blue Lagoon.