A person whose house has declined in value as a result of a nearby factory's fumes is a third party to the market associated with the factory
Indicate whether the statement is true or false
T
You might also like to view...
The Rule of 70 can be used to calculate the
A) 70 percent level of the economic growth rate. B) population growth rate per year. C) economic growth rate per year. D) economic growth rate per month. E) number of years it would take for the level of any variable to double.
Costs of renewing contracts or printing new price lists are known as
A) small business costs. B) small menu costs. C) small operating costs. D) small production costs.
Suppose the equilibrium real federal funds rate is 5 percent, the target rate of inflation is 3 percent, the current inflation rate is 5 percent, and real GDP is 4 percent above potential real GDP. If the weights for the inflation gap and the output gap
are both 1/2, then according to the Taylor rule the federal funds target rate equals A) 1 percent. B) 9 percent. C) 13 percent. D) 17 percent.
Referring to the Economics in Practice on page 320: A successful celebrity endorsement of a product will most likely ________ for the product, resulting in a higher equilibrium price and a larger equilibrium quantity.
A. increase the supply B. decrease the demand C. decrease the supply D. increase the demand