Microeconomics 2106 Test 4 - Assignment Essays %

question

Public policy can help achieve more efficient use of an economy resources by elimination all monopolies

answer

False

question

In order to ensure allocative efficient on the part of a natural monopoly regulators would set price equal to marginal cost

answer

True

question

Mere size is no offense is an antitrust ruling based on the rule of reason

answer

True

question

Price fixing is illegal in the united states

answer

True

question

A private firm that sustains a financial loss because of an antitrust violation may be able to recover three times the actual damages?

answer

True

question

Technological change has played a major role in increasing competition in recent years

answer

True

question

The Herfindahl-Hirschaman index is an approach to measuring market concentration

answer

True

question

A tying scale is a situation where a customer is allowed to buy one product only if the consumer also buys another product measuring market concentration.

answer

True

question

Oil and coal are examples of renewable resources because we are rapidly discovering new reserves and developing new technologies to extract these resources

answer

False

question

Environmental problems results when social cost and benefits are different from private costs and benefits

answer

True

question

Coase Solution to the externality problem only works when bargaining cost are high

answer

False

question

When a system of pollution right is in effect polluters have an economic incentive to reduce the amount of pollution they generate

answer

True

question

The united states recycles a greater portion of it garbage then japan does

answer

False

question

International externalities are externalaites that cross national borders and cannot be resolved by a single nation acting alone

answer

True

question

a marketable permit programs allows a firm to emit a certain amount of pollution and firms can sell or trade those permits

answer

True

question

The Lorenz curve shoes the percentage of total income receives by a given percentage of recipients whose incomes are arrayed from smallest to largest

answer

True

question

A better measure of household welfare would be the distrubiton of spending which indicates that spending my quintiles is more evenly distributed than income

answer

True

question

social insurance programs and income assistance programs (welfare) are alike in that they both require recipients to have a work history or to have paid into the program

answer

False

question

Work requirements and time limit have results in substantial declines in the number of welfare recipients

answer

True

question

The equal employment opportunity commission was establishes by the sherman antitrust act of 1890

answer

False

question

Incomes differ partially because of difference in the number of worker in each household and difference in education abaiity and job experience

answer

True

question

The poverty level threshold in the u.s is the same worldwide.

answer

False

question

Government programs that assure a miniumum income can discourage employment and self suffciecy

answer

True

question

A public good is one that is non excludable and nonrivarlous

answer

True

question

It is difficult for private companies to produce public goods of the free rider issue

answer

True

question

Every good idea can be patented for example if come up with a better way to organize my employees and train them i can patent that/

answer

False

question

Patent don't reward research and development because the R&D would be funded away by varying government entities

answer

True

question

In the private market a product with positive externalities would be underproduces.

answer

True

question

In the private market a product with negative externalities would be underproduces.

answer

False

question

Intellectual property refers to the body of law including patents,trademarks,copyrights and trade secret that protect the right of inventors to produce and sell their inventions.

answer

True

question

Government sometimes provide goods and services that would be otherwise under provided because of the free rider problem

answer

True

1 of 31

question

Public policy can help achieve more efficient use of an economy resources by elimination all monopolies

answer

False

question

In order to ensure allocative efficient on the part of a natural monopoly regulators would set price equal to marginal cost

answer

True

question

Mere size is no offense is an antitrust ruling based on the rule of reason

answer

True

question

Price fixing is illegal in the united states

answer

True

question

A private firm that sustains a financial loss because of an antitrust violation may be able to recover three times the actual damages?

answer

True

question

Technological change has played a major role in increasing competition in recent years

answer

True

question

The Herfindahl-Hirschaman index is an approach to measuring market concentration

answer

True

question

A tying scale is a situation where a customer is allowed to buy one product only if the consumer also buys another product measuring market concentration.

answer

True

question

Oil and coal are examples of renewable resources because we are rapidly discovering new reserves and developing new technologies to extract these resources

answer

False

question

Environmental problems results when social cost and benefits are different from private costs and benefits

answer

True

question

Coase Solution to the externality problem only works when bargaining cost are high

answer

False

question

When a system of pollution right is in effect polluters have an economic incentive to reduce the amount of pollution they generate

answer

True

question

The united states recycles a greater portion of it garbage then japan does

answer

False

question

International externalities are externalaites that cross national borders and cannot be resolved by a single nation acting alone

answer

True

question

a marketable permit programs allows a firm to emit a certain amount of pollution and firms can sell or trade those permits

answer

True

question

The Lorenz curve shoes the percentage of total income receives by a given percentage of recipients whose incomes are arrayed from smallest to largest

answer

True

question

A better measure of household welfare would be the distrubiton of spending which indicates that spending my quintiles is more evenly distributed than income

answer

True

question

social insurance programs and income assistance programs (welfare) are alike in that they both require recipients to have a work history or to have paid into the program

answer

False

question

Work requirements and time limit have results in substantial declines in the number of welfare recipients

answer

True

question

The equal employment opportunity commission was establishes by the sherman antitrust act of 1890

answer

False

question

Incomes differ partially because of difference in the number of worker in each household and difference in education abaiity and job experience

answer

True

question

The poverty level threshold in the u.s is the same worldwide.

answer

False

question

Government programs that assure a miniumum income can discourage employment and self suffciecy

answer

True

question

A public good is one that is non excludable and nonrivarlous

answer

True

question

It is difficult for private companies to produce public goods of the free rider issue

answer

True

question

Every good idea can be patented for example if come up with a better way to organize my employees and train them i can patent that/

answer

False

question

Patent don't reward research and development because the R&D would be funded away by varying government entities

answer

True

question

In the private market a product with positive externalities would be underproduces.

answer

True

question

In the private market a product with negative externalities would be underproduces.

answer

False

question

Intellectual property refers to the body of law including patents,trademarks,copyrights and trade secret that protect the right of inventors to produce and sell their inventions.

answer

True

question

Government sometimes provide goods and services that would be otherwise under provided because of the free rider problem

answer

True

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