Other things the same, an economy's factors of production are likely to be used more effectively if there is an economywide respect for property rights

When using pollution charges to improve efficiency in a market with an external cost, regulators attempt to set the pollution charge equal to the

A) marginal social cost of production. B) marginal external cost of production. C) marginal private cost of production. D) marginal private benefit of consumption. E) marginal external benefit minus the marginal external cost.

The idea of convergence is that

a. Poor and rich economies will converge on middle-income status. b. Capitalist and Socialist systems will become more alike. c. Poor countries will grow faster than rich ones, but may level off before becoming rich. d. Agricultural technologies will come to resemble industrial technologies. e. None of the above.