Socially inefficient outcomes may occur in markets where there are:
a. negative externalities present
b. asymmetric information problems present.
c. positive externalities present.
d. any of the above.
d
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According to the table above, ________ percent of total income is redistributed from the highest income group
A) 4.7 B) 2.3 C) 1.5 D) 3.8
Overseas investments by U.S. citizens show up in the U.S. balance of payments as
a. credit items. b. debit items. c. current account items. d. investment income.
The short-run supply curve shows the ______ that the firm will supply at various prices in the short run.
a. marginal efficiency b. equilibrium efficiency c. marginal output d. equilibrium output
An American citizen works for a U.S.-owned architectural firm located in Mexico. This architect will contribute toward:
A. U.S. GDP since he's a U.S. citizen. B. Mexico's GDP since he's working in Mexico. C. both Mexico's and U.S. GDP. D. U.S. GDP since he's working for a U.S. firm.