How can freedom of the press promote economic growth?
A) A free press can be more easily swayed to report only one side of any issue.
B) A free press reduces the likelihood that judges will protect private property rights.
C) A free press can act as a watchdog for corruption, increasing chances for economic growth.
D) A free press does not promote economic growth.
C
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Which of the following statements is true?
A) Maximum social surplus implies equity. B) Pareto efficiency implies equity. C) Taxation causes redistribution of wealth among the members in a society. D) Market prices act as signals that result in equal distribution of income and wealth in the society.
If, as a perfectly competitive industry expands, it can supply larger quantities only at a higher long-run equilibrium price, it is
A) a constant-cost industry. B) an increasing-cost industry. C) a decreasing-cost industry. D) a fixed-cost industry.