Because trucking as an industry involves the generation of pollutants in engine exhaust,
A) the supply curve of trucking services overstates the true cost of providing those services.
B) the supply curve of trucking services understates the true cost of providing those services.
C) the demand curve for trucking services overstates the true benefit of providing those services.
D) the demand curve for trucking services understates the true benefit of providing those services.
E) the market for trucking services will always be away from equilibrium by an amount equal to the value of the externality.
B
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Refer to the table above. If consumption expenditure increases to $200,000 in the next year, ________, all other variables remaining unchanged
A) gross domestic product will fall to $367,000 B) gross domestic product will increase to $367,000 C) gross domestic product will increase to $400,000 D) gross domestic product will fall to $400,000
For which of the following projects would it likely be most difficult to acquire 1,000 acres of land?
A) growing wheat B) building an amusement park C) building storage sheds D) digging wells
A continuing, long-term, large decline in the demand for coffee will not cause the price of coffee to fall much over the years if
A) coffee is not scarce. B) the demand for coffee is highly elastic. C) the demand for coffee is highly inelastic. D) the supply of coffee is highly elastic. E) the supply of coffee is highly inelastic.
When institutional money managers use their computers to decide on large sales or purchases in the stock market, they are employing
a. the herd instinct. b. the bandwagon effect. c. program trading. d. stock watering.