0(0 out of 50 correct 1 The functional distribution of...

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1. The functional distribution of income refers to the: A. B. division of income on the basis of industry agriculture, transportation, mining, etc. C. distribution of income to basic resource cla interest, and profits. D. way income is distributed among specific h units. 2. The largest functional share of the national income consists of: A. B. interest and rental income. C. proprietors' income, that is, the income of u businesses. D. corporate profits. 3. A group of chain stores operating at, say, the retail level--for example, J.C. Penney or Kmart--is an illustration of: A. B. a conglomerate combination. C. a horizontal combination. D. a vertical combination.
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4. A firm which owns plants at many different stages in the production process--for example, a steel producer which owns coal and ore mines, coke ovens, rolling mills, and so forth--is an illustration of: A. B. a horizontal combination. C. a conglomerate combination. D. a diagonal combination. 5. The "separation of ownership and control" in a corporation means that: A. B. the ownership of corporations is becoming in the hands of a few common stockholder C. a firm's board of directors has no power ov managers. D. stockholders have lost their voting privileges. 6. The U.S. economy is called "mixed capitalism" because: A. B. the answers to the Five Fundamental Ques determined by government and partly by p businesses. C. the capital of most business enterprises is f funds. D. a large percentage of business enterprises a government and private business.
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7. The Pure Food and Drug Act is an illustration of: A. B. the redistributional function of government. C. governmental provision of a suitable legal system. D. governmental action designed to enhance competition. 8. Spillover costs arise: A. B. when the demand curve for a product is loc left. C. when firms "use" resources without being them. D. only in capitalistic societies. 9. When spillovers cause substantial positive benefits to accrue to third parties, a competitive market: A. B. overallocates resources to the production o good. C. is allocatively efficient. D. compensates people for the value of the be these third parties.
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A market externality refers to: A. B. the impact of legal and institutional forces behavior. C. any unanticipated change in market price o output. D. any noneconomic force, for example, polit of Arab oil, which has market effects. 11. A public good: A. B. has falling costs of production. C. yields widespread benefits which cannot b large. D. yields benefits only to the individual who d it. 12. The exclusion principle is the idea that: A. B. cases of market failure cannot be remedied actions. C. the presence of external costs and benefits resources. D.
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0(0 out of 50 correct 1 The functional distribution of...

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