When a negative externality is present in a market, the quantity consumed:
A. is always less than the socially optimal quantity.
B. is more than the socially optimal quantity.
C. is the same as the socially optimal quantity.
D. is often less than the socially optimal quantity.
B. is more than the socially optimal quantity.
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Women currently comprise ______ of the workforce.
a. about one-third b. about two-thirds c. just under half d. just over half
Gross domestic product (GDP) is the total market value of the final goods and services produced by an economy in a one-year period.
Answer the following statement true (T) or false (F)
The richest 10 percent of U.S. houses hold more than two-thirds of all wealth. The problem with this statement is that
A. it is based entirely on nonhuman wealth. B. it is based entirely on human wealth. C. it does not consider an individual's current income. D. it does not consider private and public pension plans.
If the price level is initially at P1, then the economy will adjust by:
Refer to the graph above
A. Increasing output produced
B. Decreasing the GDP produced
C. Reducing the price level
D. Increasing the total output demanded