The message that market economies will inevitably fail is associated with:

a. Marx
b. Samuelson
c. Kornai
d. Olson
e. Hayek

A

Economics

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Having product differentiation means that a firm

a. cannot raise its price without suffering substantial loss of sales b. shifts the demand for the product to the left c. produces a good that is only a close substitute, at best, for the goods produced by other firms in the industry d. produces a good that is a perfect substitute for the goods produced by other firms in the industry e. has no incentive to advertise

Economics

In contrast to other antipoverty programs, a negative income tax

a. provides incentives to work b. provides more assistance to children c. assists the unemployed d. provides direct in-kind transfers to the most needed e. recognizes the existence of a culture of poverty

Economics