A general-equilibrium analysis of the impact of a tax on the peanut butter market would include an investigation of the impacts in
A) the television market.
B) the coffee market.
C) the salsa market.
D) the jelly market.
D
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Suppose the economy is producing below potential GDP and the Federal Reserve implements the appropriate change in monetary policy, but not until after the economy has started to recover from the recession. In this situation there is a real danger that
A) the Fed's expansionary policy will result in too small of an increase in GDP. B) the Fed's expansionary policy will result in too large of an increase in GDP. C) the Fed's contractionary policy will result in too large of a decrease in GDP. D) the Fed's contractionary policy will result in too small of a decrease in GDP.
Reasons for greater income inequality in less-developed countries than in developed economies are all the following except
a. marginal revenue product of labor is low b. marginal revenue product of capital c. low levels of education are attained d. the economy is in the early stages of transforming from predominantly agricultural to industrial production e. societal preference for income inequality
Which of the following is a transfer payment?I.Social SecurityII.Unemployment benefits
A. I only B. II only C. Both I and II D. Neither I nor II
Why is the MC curve of cleaning pollution upward sloping?
A. Increasing opportunity costs of cleaning pollution. B. There are less and less benefits to outweigh the costs. C. There are increased incentives for cleaning pollution. D. Citizens must pay more of their taxes to clean the pollution.