Government intervention is sometimes used to reduce the external costs of production.
Answer the following statement true (T) or false (F)
True
Externalities will not be corrected purely by the market; some intervention of government is necessary to correct them.
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What are two ways in which economic growth is generally measured?
What will be an ideal response?
Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Morocco gain compared to the "without trade" numbers?
A) 0 B) 15 C) 60 D) 75
When evaluating the taxation of dividends in isolation, it is easy to overlook the double taxation of saving
a. True b. False
Suppose in the ice-cream market with 10 firms, the elasticity of market demand is -1, and each firm has a constant marginal cost at $2. The Nash-Cournot equilibrium price is
A) $2. B) $2.2. C) $2.4. D) $2.5.