Evidence concerning hyperinflation indicates a clear link between the money supply and the price level for
a. Austria in the 1920's.
b. Hungary in the 1920's.
c. Poland in the 1920's.
d. All of the above are correct.
d
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Cindy discovers that when she goes to the beach, she does not have to bring her radio. She can put her blanket near someone who has a radio and listen all day (without having to carry her radio, get sand in her speakers, or buy new batteries). This is an example of:
a. private property abuse. b. external costs. c. a negative externality. d. a positive externality.
A monopolist maximizes its profits by selling up to the point where:
a. its price equals its marginal cost. b. its price equals its marginal revenue. c. its marginal revenue equals its marginal costs. d. the difference between its price and average cost is maximized.
In this graph for the marginal costs and benefits of pollution controls, at output level Q1, pollution control is ______.
a. unnecessary
b. optimized
c. insufficient
d. excessive
A "decrease in the quantity supplied" suggests a:
a. Movement up along the supply curve b. Movement down along the supply curve c. Leftward shift of the supply curve d. Rightward shift of the supply curve