Under what circumstances will the residual supply curve for a country be upward sloping?
A) when it does not import any of the good from the rest of the world
B) when it imports a small portion of the rest of the world's supply of the good
C) when it imports a large portion of the rest of the world's supply of the good
D) Either A or B
C
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A public good is: a. a good or service for which it is relatively easy to exclude nonpaying customers from consumption. b. a good or service that is consumed by both the paying and nonpaying customers
c. any good or service that is produced by the government. d. a good or service that is consumed by private individuals and financed by private contributions.
Which of the following statements is correct about a market in which pollution is emitted?
a. Both corrective taxes and pollution permits internalize the externality of pollution. b. Corrective taxes internalize the externality of pollution, but pollution permits do not internalize that externality. c. Corrective taxes fail to internalize the externality of pollution, but corrective taxes internalize that externality. d. Neither corrective taxes nor pollution permits internalize the externality of pollution.
When a supervisor administer a questionnaire among participants that have never met it is called
a. brainstorming b. sampling c. delphi technique d. groupthink
Suppose a market is in equilibrium. If a price floor is set in this market below the equilibrium price, it is likely that:
A) quantity demanded will increase. B) a surplus will arise. C) a shortage will arise. D) the quantity sold will rise. E) the market will remain in equilibrium.