Periods of full employment correspond to
A. either points inside or outside the ppf.
B. points inside the ppf.
C. points on the ppf.
D. points outside the ppf.
Answer: C
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The table above describes the market for paper. The production of paper produces pollution. There are no external benefits. What amount of tax per ton of paper is necessary to produce the efficient quantity of paper?
A) $60 B) zero C) $40 D) $100
The president of a large public university proclaims, "If we can get the state government to fund our new football stadium, it will not cost us anything." Evaluate this view from an economic perspective
When studying the effects of public policy changes, economists
a. always refrain from making assumptions. b. sometimes make different assumptions about the short run and the long run. c. consider only the direct effects of those policy changes and not the indirect effects. d. consider only the short-run effects of those policy changes and not the long-run effects.
Shoeleather costs arise when higher inflation rates induce people to
a. spend more time looking for bargains. b. spend less time looking for bargains. c. hold more money. d. hold less money.