Marginal social cost is defined as marginal private cost
A. plus opportunity cost.
B. plus marginal opportunity cost.
C. minus incidental cost.
D. plus incidental cost.
Answer: D
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Both increases in the price level and increases in real GDP will decrease the demand for money
Indicate whether the statement is true or false
Holding the real money supply constant, an increase in real money demand will reduce interest rates
Indicate whether the statement is true or false
Tariffs are costly to consumers because
A. the supply of the imported good increases. B. the price of the imported good falls. C. consumers have to pay higher-prices. D. import competition increases for domestic goods.
A lump-sum tariff imposed on foreign competitors will:
A. decrease the profits of domestic firms when demand is high. B. have no impact on domestic firms' profits when demand for domestic goods is high. C. increase the profits of domestic firms when demand is high. D. always remove foreign competitors from the market.