10; All are reasons that market failure takes place except

A. People's needs are not reflected in market demands

B. Increasing returns to scale

C. The presence of externalities

D. The presence of government

12; Marginal cost is

A. The total cost divided by the total output

B. The cost incurred in producing an additional unit of output

C. The cost of producing all output

D. The cost of producing the first unit of output

16; To say the market for the Game of Thrones DVDs clears means that

A. The quantity bought equals the quantity sold

B. The price at which Game of Thrones DVD is sold is the same as the price at which it is bought

C. At the current price, the quantity demanded equals the quantity offered for sale

D. Everyone who wants a Game of Thrones DVD gets one

19; All of the following are factors that contribute to high productivity except

A. The skills and motivation of the workers and managers

B. The work shift assigned to workers

C. Technologies used in production

D. The scale of production

20 ; Since 2000 income inequality in the United States have

A. Decreased then increased

B. Continuously Increased

C. Increased then decreased

D. Continuously Decreased

24; Uneven development is:

A. Increases in GDP one year and a decrease in the following year

B. The process of rapid growth in some parts of the capitalist world and slow growth or even economic decline in others

C. One person earning more than the other

D. One person having more purchasing power than the other