Who are the only ones not affected by a Pigouvian tax when a negative externality exists in a market?
A. Producers
B. Consumers
C. Those affected by the externality
D. All of these groups are affected when it becomes internalized.
D. All of these groups are affected when it becomes internalized.
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Which is the main motivation for entrepreneurs to take on the risks of producing?
A. Increasing costs of production B. Fun C. Profit D. Decreasing costs of production
The advantage of a "buy-and-hold strategy" is that
A) net profits will tend to be higher because there will be fewer brokerage commissions. B) losses will eventually be eliminated. C) the longer a stock is held, the higher will be its price. D) profits are guaranteed.
In an economy where the poorest quintile of the population receives 5 percent of the income, the Lorenz curve at the quintile
a. is the diagonal b. registers 5 percent of the income c. lies above the diagonal d. registers 95 percent of the income e. of the richest quintile must be 95 percent of the income
Who or what is responsible for bringing together scarce resources to produce most of the goods and services in the U.S.?
A) the U.S. government B) the United Nations C) the Federal Reserve Bank D) markets and prices