A power plant in Illinois produces electricity by burning coal. This results in acid rain that kills trees and wildlife in New York. This is an example of
A. A private cost.
B. A public bad.
C. An external cost.
D. Inequity.
Answer: C
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The data in the above table show that the economy will be in a short-run macroeconomic equilibrium at a price level of
A) 90. B) 110. C) 100. D) 120.
(Last Word) In response to the Great Recession, the federal government engaged in significant deficit-funded spending. What was the result of that spending over the first three years?
A. Neither economic growth nor unemployment responded as well as many economists had predicted. B. Economic growth responded in accordance with predictions, but unemployment remained much higher than anticipated. C. Economic growth remained sluggish, but the unemployment rate fell to predicted levels. D. Both economic growth and the unemployment rate responded well, reaching the fiscal policy targets set by the government.
Which form of intellectual property would protect an auto manufacturer that put a brand name on its new radio (that recognizes your voice and plays your favorite songs) and specifically wants to protect the brand?
A. Copymark B. Trademark C. Copyright D. Patent
Fiscal policy can act just like monetary policy to offset shifts in the dynamic aggregate demand curve and stabilize inflation and output. Explain how the two policies could have the same effect.
What will be an ideal response?