Asset price "bubbles" are sustained price increases driven by economic fundamentals.
Answer the following statement true (T) or false (F)
False
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After employing her last laborer, Rachel notices that her Average Product has decreased. True or False: Her marginal cost is greater than her average variable cost
Indicate whether the statement is true or false
What best describes westward movement of population between 1800-1860?
a. The 1850s was the decade when the largest number of people moved to the west. b. The large increase in and sales in this period was based on speculation. c. Migrants moved to the west because they were "pushed" out of the east, where conditions were getting worse. d. Corn prices were relatively low in the decades when migration to the west was largest.
Private entrepreneurs are likely to make better investment decisions than central planners because
A) failure of a government project will reduce the personal wealth of the planners involved in the decision. B) the entrepreneurs can often turn a project's failure into a request for additional funding to rectify the "problem". C) the entrepreneurs seek ever larger budgets, while planners will be more focused on cost reductions and efficiency. D) the entrepreneurs who make mistakes must bear the costs of these mistakes
The concept of “government failure” implies
A. laissez faire is always best. B. government intervention is always justified since government never fails. C. no market failure can be corrected by government intervention. D. government intervention to correct a “market failure” sometimes fails.