Protecting endangered species is not an example of a public good because there are no external benefits associated with it.
Answer the following statement true (T) or false (F)
False
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If the price level was 100 in 2014 and 102 in 2015, the inflation rate was
A) 102%. B) 20%. C) 2%. D) 0.2%.
A firm faces the following relationship between the real wage it pays and the effort exerted by its workers.
The marginal product of labor for this firm is given by MPN = E (50 - N)/3. The firm will choose to pay a wage such that the effort level is
A. 14. B. 27. C. 32. D. 20.
In order to have an efficient distribution of final products to households,
A. households must maximize their income. B. there can be no unemployment. C. the equity criterion must be satisfied. D. free and open markets are essential.
The capture theory holds that regulations are supplied to maximize ________
A) total sales B) economic profit C) marginal product D) consumer surplus