Answer Happy

5. Generally speaking, what is the impact of a tariff on total surplus (consumer-producer)? a) It causes total surplus to rise. b) It has no effect on total surplus. c) Tariff has nothing to do with total surplus. d) It causes total surplus to fall. 7. The major disadvantage of the corporation is a) the owners and the managers are the same. b) limited liability. c) single taxation d) none of the above 8. Which of the following is the most accurate characterization of the pattern of economic growth in Japan? a) The economy is growing rapidly currently and has been growing at this pace for many years. b) The economy was growing very rapidly but the tsunami has put an abrupt end to that trajectory of growth c) The economy of Japan is not growing very rapidly and has not grown significantly since World War II. d) The economy is not growing very much at all currently but experienced dramatic growth in the 1960s and 1970s. e) The economy was not growing rapidly in the 1970s but experiencing very rapid growth currently 9. Indicative planning means that a) no compulsory targets are prepared for enterprises b) planners project probable trends in the economy c) compliance with the plan is purely voluntary d) all of the above. e) none of the above. 10. Sweden receives a great deal of attention from economists in part because a) it is an example of achieving efficient allocation without substantial public goods. b) it is an example of rapid growth under severe population pressure. c) it is and example of command planning d) it is an example of market efficiency with socialist equity. e) none of the above. 11. The Meiji Restoration in Japan refers to a) the restoration of the emperor after World War II b) the system by which the state in Japan restored control over large businesses c) the period when the Japanese economy was opened up to western influences. d) the restoration of indicative planning e) none of the above 2