The marginal cost curve of pollution abatement
A) slopes upward because of the law of diminishing product.
B) slopes upward because firms will maximize profits.
C) slopes downward because of the law of diminishing marginal utility.
D) slopes downward because of the law of diminishing returns.
Answer: A
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Attempts to fine-tune the economy through counter-cyclical fiscal policy
A) demonstrated their effectiveness in the 1930s. B) demonstrated their effectiveness during World War II. C) demonstrated their effectiveness between 1945 and 1960. D) have not yet demonstrated their effectiveness.
Faster long-term growth can be achieved by discouraging saving and encouraging consumption
Indicate whether the statement is true or false
Ceteris paribus, an increase in the government's budget deficit will increase the current account deficit
Indicate whether the statement is true or false
The "competition" in monopolistically competitive markets is most likely a result of having many sellers in the market
a. True b. False Indicate whether the statement is true or false