Which of the following would not be considered a negative externality?
a. Smelter, Inc. creates steel and pollution.
b. Your friend buys a new puppy that barks every night.
c. You have an adverse reaction to a medication your doctor prescribed for you.
d. Your neighbor plays loud music that you dislike through stereo speakers set up on his deck.
c
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If the quantity of credit supplied in a market exceeds the quantity of credit demanded in the market:
A) the unemployment rate tends to rise. B) the real rate of interest tends to rise. C) the rate of inflation tends to fall. D) the real rate of interest tends to fall.
Slowdonia's current growth rate of real GDP per person is 1 percent a year. Approximately how long will it take to double real GDP per person?
A) 10 years B) 35 years C) 70 years D) 100 years
Market demand curves are obtained by
A) observing the behavior of an individual consumer in a market. B) observing the prices and quantities sold in a market over time and plotting those price-quantity combinations in a graph. C) averaging the quantities every consumer is willing to buy at each different price. D) summing the quantities every consumer is willing to buy at each different price. E) determining the price each consumer is willing to pay for the good and summing those prices across all consumers.
A key factor that leads to economic growth is
A) human capital accumulation. B) increasing current consumption. C) avoiding the opportunity cost of investment. D) Both answers A and B are correct.