Which of the government policies below is not likely to encourage per capita economic growth?
a. High taxes on companies that spend a lot on capital formation
b. The use of tax revenues for investment and capital formation
c. Special subsidies for capital-intensive forms of production
d. Promotion of education and training programs for workers
a
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Which of the following must be true of an attorney who buys a portable computer so that she can work on trains and planes?
a. She is engaging in conspicuous consumption. b. She gets utility from working. c. She thinks the opportunity cost of her time is higher than it really is. d. She thinks the opportunity cost of her time is lower than it really is. e. She is trying to reduce the opportunity cost of traveling.
A price floor set below the equilibrium price causes quantity supplied to exceed quantity demanded
a. True b. False Indicate whether the statement is true or false