The government requires the steel industry to adopt new eco-friendly machines, which cannot be used in other industries. If the machines are very expensive and the capital market does not work efficiently, then
A) entrants are encouraged to enter the market and adopt the new machines.
B) firms can easily leave the steel industry without loss.
C) entrants are discouraged by the new requirements.
D) None of the above.
C
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In the United States, the Lorenz curve for wealth is ________ from the 45-degree line than is the Lorenz curve for income, which means that the distribution of wealth is more ________ than the distribution of income
A) farther away from; unequal B) farther away from; equal C) closer to; unequal D) closer to; equal
19th-century cost-saving innovations in steamboat transportation included all of the following except
a. the replacement of steam-powered boilers by coal-burning engines. b. the adoption of lighter-weight boats. c. increases in the amount of cargo carried per vessel. d. learning to operate the boats at night.