Net exports is a positive number in the national income accounts when
A. imports exceed exports.
B. exports exceed imports.
C. national income exceeds personal income.
D. capital consumption exceeds net investment.
B. exports exceed imports.
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Suppose unregulated production of pesticides results in an equilibrium price and quantity of $400 and 1,000 tons per day, respectively, and a marginal external cost of $10 a ton
a) If the government were to eliminate the external cost by using taxes, what should the tax equal? b) Would the government action described above affect the quantity of pesticides produced? If yes, how? If no, why not?
Was the U.S. government able to control the world petroleum prices? Support your choice with suitable reasons
If marginal cost is greater than average total cost, then
a. profits are increasing. b. economies of scale are becoming greater. c. average total cost remains constant. d. average total cost is increasing.
When network externalities are present, the market demand for the good in question becomes:
A.unit elastic. B. less elastic. C. more elastic. D. perfectly inelastic.