Inoculations of children against infectious diseases are
A. an example of a public good.
B. dangerous for society.
C. an example of an external cost.
D. an example of an external benefit.
Answer: D
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Describe some of the external benefits associated with education. What can government do to encourage production of the efficient amount of education?
What will be an ideal response?
The figure above shows Sam's budget line. Which of the following formulas represents Sam's budget equation?
A) $60.00 = $1.50/Qg + $3.00/Qc B) $60.00 = Qg /$1.50 + Qc /$3.00 C) $60.00 = $1.50(Qg) + $3.00(Qc) D) $60.00 = $1.50(Qg) - $3.00(Qc)
"Policy ineffectiveness" refers to the hypothesis that monetary and fiscal policy actions that change aggregate demand will
a. neither affect output nor employment even in the short run. b. affect output and employment in both the short run and long run. c. affect output but not employment in the short run. d. not affect output but will affect employment in the long run.
Equilibrium is the point where total spending equals total output, or GDP.
Answer the following statement true (T) or false (F)