Thursday, August 19, 2010

Can someone help me with these economic questions?

38: Which of the following is not one of the roles of the Environmental Protection Agency (EPA)?


sets and enforces tolerable limits of pollution


cleans up polluted streams, rivers, and marshes


establishes timetables to bring polluters into line with standards


has the authority to coordinate and support research and anti-pollution efforts


46: A(n) _____ is an economic disadvantage, such as lower efficiency or higher costs.


diseconomy


noneconomy


net loss


unexpected loss


49: In 1652, the _______ became the first American colony to make coins.


Roanoke Colony


Plymouth Colony


Massachusetts Bay Colony


New Hampshire Colony


54: True or False: Typically, price controls are imposed in order to keep prices from rising to the levels that they would reach in response to supply and demand.


True


False


57: True or False: When a supermarket chain buys $10,000 worth of bread, it gets its money back much faster than when a piano dealer buys $10,000 worth of pianos.


True


False


58: True or False: The cost of producing a given product or service remains the same despite the volume being produced. This is what economists call "economies of scale."


True


False


59: True or False: Both profit and losses force businesses to change with changing conditions or find themselves losing out to competitors who spot the new trends earlier or who understand their implications better.


True


False


60: True or False: The advantage of a command economy is that vast amounts of knowledge about the needs and wants of the consumer do not ever have to be brought together, but are coordinated automatically by prices that convey what numerous people want.


True


False


73: True or False: The quality of available labor -- how hard people are willing to work and how skilled they are -- is at least as important to a country's economic success as the number of workers.


True


False


78: True or False: Telephone companies, like electric utilities, were once considered to be natural monopolies.


True


False


79: True or False: What early colonial prosperity in America there was resulted primarily from basket-weaving.


True


False

Can someone help me with these economic questions?
46. Net loss


54. True


57. True


58. True


59. False


60. True


73. True


78. False


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