Other things equal, which may cause an increase in the price of used houses?
a. An increase in construction costs for new houses
b. An increase in property taxes
c. An increase in mortgage interest rates
d. A decrease in the population of first-time homebuyers
a. An increase in construction costs for new houses
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Marginal cost is the
A) cost of an increase in an activity. B) total cost of an activity. C) cost of an activity minus the benefits of the activity. D) cost of all forgone alternatives.
Refer to Figure 18-1. The appreciation of the euro is represented as a movement from
A) A to B. B) D to A. C) A to C. D) B to C. E) D to C.
Refer to Scenario 17.1. If the threshold educational level y* is set at 7,
A) only individuals in Group A will attain it. B) only individuals in Group B will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
Which of the following statements about pollution or pollution control is TRUE?
A) A nationwide uniform tax on emissions is the appropriate way to reduce pollution levels. B) A tax to reduce pollution levels should be based on the economic damages rather than on the absolute amount of pollution. C) Private costs of pollution usually exceed social costs. D) The optimum amount of pollution abatement is where the total benefits of pollution abatement equal the total costs of pollution abatement.