An example of a government policy to enhance technological progress is:
A. the provision of publicly-funded education.
B. government support for basic research.
C. the construction of an interstate highway system.
D. maintaining a well-functioning legal system.
Answer: B
Economics
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In spring 2008, the U.S. Congress proposed to tax oil companies because of their near-monopoly status. This could have the unintended consequence of
A) increasing the equilibrium price by more than the tax. B) destroying the oil companies and leaving the United States without oil. C) increasing the profit of the best oil company. D) decreasing the power of the U.S. Congress.
Economics
Which of the following variables is not needed to determine the break-even quantity?
a. Marginal costs b. Fixed Costs c. Selling Price d. Average Costs
Economics