The tax cuts of 2001 and 2003 that came in the form of tax rebate checks are good examples of
A. fiscal policy.
B. monetary policy.
C. the fallacy that causation and correlation are the same.
D. the fallacy of composition.
Answer: A
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When a positive externality exists, the marginal social demand curve
a. is the same as the market supply curve b. is the same as the market demand curve c. lies below the market demand curve d. lies above the market demand curve e. lies below the market supply curve.
What happens when you make a purchase using a credit card?
(A) The money is immediately deducted from your account. (B) The amount of the purchase is deducted from a prepaid account. (C) The credit card issuer pays the store. (D) The place where you made the purchase receives the money within 24 hours.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
Which of the following is not an attempt to remedy and externality?
A. A tax per ton of sulfur dioxide pollution. B. Government quotas for individual fisherman to limit harvesting of wild salmon. C. Home association codes requiring home owners to maintain front yards. D. Price controls to combat the effects of the cost disease.