If left to market forces, activities that produce external benefits wil be over-produced
a. True
b. False
B
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The price of a house in Year 1 was $50,000. If the price index for Year 1 is 101, and for Year 2 is 202, the value of the house in Year 2 is ________
A) $75,000 B) $150,000 C) $100,000 D) $55,000
Which of the following economic theories became popular in the 1930s in response to the shortcomings of existing theories of the Great Depression?
a. New classical theory b. Classical theory c. Traditional Keynesian theory d. Monetarist theory e. New Keynesian theory
If the government wants to generate large revenues from placing a tax on the consumption of a particular good, it should choose a good for which
a. the demand is price elastic b. the demand is unitary elastic c. the demand is price inelastic d. there are many good substitutes available for the good
Which statement is true?
A. Employment discrimination has ceased to exist. B. Women working full time now earn virtually the same amount as men. C. The poverty rate for blacks and Hispanics is three times the poverty rate for whites. D. Property income is mainly paid in the form of rent.