An individual transferable quota can be used to achieve the
A) equilibrium for a public good.
B) efficient use of a common resource.
C) equilibrium for a private good.
D) equilibrium for a common resource.
B
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
When comparing the measure of goods and services of one country to that of another, economists generally compare
A) the real GDP and net exports. B) the real GDP. C) the real GDP and the labor force. D) the real GDP per capita.
The standard way to measure the effect of debt in an economy is the stock of debt relative to the GDP
Indicate whether the statement is true or false
If a firm's minimum efficient scale is relatively small compared to industry output, then only a few firms are needed to satisfy industry demand
Indicate whether the statement is true or false