The existence of the tradeoff along the PPF means that the PPF is
A) bowed outward.
B) linear.
C) negatively sloped.
D) positively sloped.
C
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According to a model of intergenerational equity, if future generations are expected to be better off than the current generation, transfers should
A. go from the richer generation to the poorer generation. B. not be done at all. C. go from the poorer generation to the richer generation. D. be weighted by increases in the inflation rate.
Exhibit 30-2
?
A. It is the quantity of output at which marginal social benefits (MSB) equal marginal private benefits (MPB). B. It is the quantity of output at which MPB > MSB. C. It is the market output-the quantity of output that exists if the external benefits associated with the positive externality are not taken into account. D. It is the socially optimal output-the quantity of output that exists if the external benefits associated with the positive externality are taken into account. E. none of the above
Data on the relationship between the percentage of the workforce unionized and the share of national income allocated to labor suggest that unionization has
a. greatly altered the labor-capital distribution of national income. b. increased the share of national income allocated to labor. c. had a positive effect on the wages of nonunion workers. d. had no significant impact on the share of income going to labor.
Some goods can be classified as either public goods or private goods depending on the circumstances
a. True b. False Indicate whether the statement is true or false