The crowding of women and minorities into a restricted number of occupations:
A. has no impact on the size of the domestic output or its distribution in the long run.
B. will increase the size of the domestic output and make its distribution more equal.
C. will decrease the size of the domestic output and make its distribution less equal.
D. will increase the size of the domestic output but make its distribution less equal.
Answer: C
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When the marginal social benefit of Good A is greater than the marginal private benefit of Good A, then
A) competitive, unregulated markets will produce a quantity of Good A that is less than the efficient quantity. B) competitive, unregulated markets will produce the quantity of Good A that is equal to the efficient quantity. C) competitive, unregulated markets will produce a quantity of Good A that is greater than the efficient quantity. D) the government should levy a tax on the production of Good A that is equal to the horizontal distance between the two marginal cost curves.
Government regulations
A) have no impact on supply. B) only change the quantity supplied, not the supply curve. C) are generally ineffective due to lobbying by suppliers. D) can change both quantity supplied as well as the supply curve.