An external benefit is a benefit that ________
A) is enjoyed by someone other than the buyer of a good
B) always equals external cost
C) experiences increasing marginal returns
D) is greatest at the equilibrium point
A
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A product whose production requires a relatively high capital-labor ratio is
a. capital abundant b. capital intensive c. heavy industry d. high tech e. all of the above
Trade adjustment assistance in the United States began in 1962 . The program
a. was designed to provide assistance to firms or workers who suffer idle facilities, unprofitability, and unemployment because of sharp increases in imports. b. provided little assistance to victims of free trade before the 1970s. c. was enlarged and worker benefits were extended in 1981 by the Reagan administration. d. All of the above are correct.