When one person's actions harm others (such as in the case of pollution), economists say that a(n) _________ is present.
A. market externality
B. negative externality
C. network externality
D. antitrust externality
Answer: B
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
The reversal of fortune is strong evidence against the:
A) religious hypothesis of economic prosperity. B) geography hypothesis of economic prosperity. C) culture hypothesis of economic prosperity. D) institutions hypothesis of economic prosperity.
Almost all of the rent that tenants pay to landlords of apartments buildings is economic rent
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true?
A. A probit or logit model should be used for corner solution outcomes, and a Poisson regression model should be used for a binary response. B. A Poisson regression model should be used for corner solution outcomes, and a probit or logit model should be used for a binary response. C. A probit or logit model should be used for count variables, and a Poisson regression model should be used for a binary response. D. A Poisson regression model should be used for count variables, and a probit or logit model should be used for a binary response.