Negative externalities: Usually caused by __________________________.
Fill in the blank(s) with the appropriate word(s).
Ans: too much being produced
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Refer to Figure 5-9. The efficient output is
A) Q1. B) Q2. C) Q3. D) Q4.
The part of the disposable income that is not consumed by households is:
a. given away in the form of taxes. b. given away as charity. c. saved. d. deducted as a depreciation cost. e. spent on imports.
Under present U.S. federal law, which one of the following is a government-inhibited good?
A. cocaine B. medical care C. education D. housing
Suppose a jar of orange marmalade that is ultimately sold to a customer at The Corner Store is produced by the following production process: Name of CompanyRevenuesCost of Purchased inputsCitrus Growers Inc.$0.750Florida Jam Company$2.00$.75The Corner Store$2.50$2.00What is the value added of Florida Jam Company?
A. $2.00 B. $1.25 C. $0.50 D. $0.75