Which of the following would be most likely to improve the standard of living of people in less-developed nations?
a. the development of strong labor unions
b. an increase in foreign investment
c. an increase in the share of the population under fifteen years of age
d. higher tariffs and the imposition of other restraints designed to restrict international trade
B
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Explain the term "free riders."
What will be an ideal response?
A monopoly will price its product:
a. where total revenue is maximized. b. where total costs are minimized. c. at that point on the market demand curve corresponding to an output level in which marginal revenue equals marginal cost. d. at that point on the market demand curve which intersects the marginal cost curve.
Supply-siders' policy recommendations include:
a. lower tax rates, spending cuts, and increased government regulation. b. lower tax rates, lower resource prices, and decreased government regulation. c. lower tax rates, spending increases, and decreased government regulation. d. lower tax rates, spending increases, and increased government regulation. e. higher tax rates, spending cuts, and decreased government regulation.
A demand curve is upward sloping because as the price decreases the quantity demanded decreases
Indicate whether the statement is true or false