If the Naval Research Laboratory fired a chemist and the Environmental Protection Agency hired her at the same salary, the net effect of these events would cause _____
Fill in the blank(s) with the appropriate word(s).
no change in aggregate demand.
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Suppose the required reserve ratio is 8% and the Fed purchases $100 million worth of Treasury bills from Wells Fargo. By how much is Wells Fargo able to increase its loans?
A) $8 million B) $92 million C) $100 million D) $1.25 billion
In the long run, when factors are mobile, an increase in the relative price of a good will increase the real earnings of the factor used intensively in the production of that good. This is known as:
a. the HeckscherOhlin model. b. the StolperSamuelson theorem. c. the Riparian model. d. the specificfactor theorem.
An emissions fee equal to the optimal Pigouvian tax on coal has the effect of _____________ the externality associated with the burning of coal, while ensuring that the marginal benefit of pollution _________ the marginal cost of pollution.
a. worsening, equals b. lessening, is greater than c. internalizing, is less than d. internalizing, equals
When comparing the additional or incremental costs versus additional or incremental benefits of a decision, one is engaging in:
a. supply and demand analysis b. marginal analysis c. production possibilities analysis