Regulation is necessary when transactions costs are low enough to allow bargaining between a polluter and a victim
Indicate whether the statement is true or false
FALSE
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The Social Security payroll tax tends to be regressive
a. True b. False Indicate whether the statement is true or false
Economic profit
a. will never exceed accounting profit. b. is most often equal to accounting profit. c. is always at least as large as accounting profit. d. is a less complete measure of profitability than accounting profit.
Assume that velocity is constant in the long run. Which of the following equations correctly describes the quantity equation in terms of percentage rate of change
A. % chM รท % chP = % chY B. % chM - % chY = % chP C. % chM x % chY = % chP D. % chM - % chP = % chYf
The longer a patent lasts,
A) the greater the potential economic profits available to an innovator. B) the lower the deadweight loss. C) the lower the average costs of production. D) the less innovation there will be.