Free ridership is associated with what kind of externality, and why?
a. positive, because costs are identified but not internalized
b. negative, because costs are identified but not internalized
c. positive, because many who benefit are not always identified or accounted for
d. negative, because many who benefit are not always identified or accounted for
e. positive, because social value equals private value
C
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If the firm in the figure above is unregulated, it will charge a price of
A) $5 per unit. B) $25 per unit. C) $40 per unit. D) $20 per unit.
Does a subsidy to sellers affect the supply curve?
A. Yes, it shifts supply vertically downward by the amount of the subsidy. B. Yes, it shifts supply to the right by the amount of the subsidy. C. No, the quantity supplied will increase, but the supply curve does not move. D. No, the quantity supplied will decrease, but the supply curve does not move.
The aggregate demand curve slopes downward in part due to the:
A. negative relationship between the price level and net exports. B. positive relationship between the price level and exports. C. negative relationship between the price level and imports. D. All of these are true.
The largest percentage of U.S. national debt to GDP occurred during
A. World War II. B. The Civil War. C. The Great Depression. D. World War I.