All the costs of a transaction are referred to as
A) transfer costs.
B) transactions costs.
C) marketing expenditures.
D) accounting costs.
B
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How are the following events likely to affect an economy's production possibilities curve?
a. An increase in the working population of the economy b. The import of better production technology c. A natural disaster that destroys some of the economy's resources d. Emigration of workers to other countries
A production possibilities curve will shift inward
A) when the unemployment rate increases. B) when production is inefficient. C) when resources are expanding. D) when a war destroys the capital goods of a country.
The total benefits to society from pollution abatement
A) increase at an increasing rate with the increase of pollution abatement. B) increase at a decreasing rate with the increase of pollution abatement. C) decrease at an increasing rate with the increase of pollution abatement. D) decrease at a decreasing rate with the increase of pollution abatement.
A decrease in net taxes at a given price level leads to
A) no change in aggregate demand. B) an increase in aggregate demand. C) a decrease in aggregate demand. D) a decrease in aggregate supply.