The difference between marginal benefits and marginal costs is the:
A. opportunity cost.
B. profits.
C. accounting cost.
D. marginal net benefits.
Answer: D
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If the government increases unemployment benefits, then the labor
A) demand curve shifts rightward. B) demand curve shifts leftward. C) supply curve shifts rightward. D) supply curve shifts leftward. E) Both answers B and D are correct.
Control of the nation's quantity of money is handled by
A) Congress. B) the Federal Reserve System. C) the President of the United States. D) Congress, the Federal Reserve System, and all commercial banks.
Changes in inventories are included in which category under the expenditure approach to GDP accounting?
a. consumption b. government purchases c. investment d. net exports
The creation of private property rights corrects negative externality problems in many cases because they
a. cannot create negative externalities b. create a strong incentive for the private owners to maintain the property c. can force the government to compensate the owners for the externality costs d. encourage people to become free riders e. always lead to the social optimal price and output levels