Which of the following is NOT a reason people tolerate tariffs and quotas?
A) Ignorance
B) Their personal jobs depend on tariffs and quotas.
C) Costs may be hidden and hard to quantify.
D) Costs of the policy are spread over a large number of people.
E) The marginal expenses to fight the protection outweigh the personal marginal costs of the protection.
B
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Of the types of business organizations in the United States, sole proprietorships account for the ________ percentage of firms and the ________ percentage of profits
A) smallest; smallest B) largest; largest C) smallest; largest D) largest; smallest
The provision of public goods gives rise to
a. positive externalities, as does the use of common resources. b. positive externalities, whereas the use of common resources gives rise to negative externalities. c. negative externalities, whereas the use of common resources gives rise to positive externalities. d. negative externalities, as does the use of common resources.
In the equation Y = C + I + G,
a. only I is an exogenous variable determined by factors outside the model. b. only G is an exogenous variable determined by factors outside the model. c. C is an endogenous variable determined by factors inside the model. d. I and G are exogenous variables determined by factors outside the model. e. A, b, and c
Monopoly profit cushions the losses that may arise from a failed technological change
Indicate whether the statement is true or false