In this graph for the marginal costs and benefits of pollution controls, at ______ the marginal social benefits of greater pollution control expenditures have exceeded the marginal costs associated with having the controls.
a. Q1
b. Q2
c. Q*
d. both Q1 and Q2
a. Q1
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The interest rate the Federal Reserve charges commercial banks to borrow reserves is called the ________ rate.
A. prime B. discount C. Fed funds D. Federal
The law of supply states that, other things remaining the same,
A) demand increases when supply increases. B) if the price of a good increases, firms buy less of it. C) if the price of a good increases, the quantity supplied increases. D) as people's income increase, the supply of goods increases. E) if the price of a good increases, the supply increases.
If the income effect of a wage increase equals the substitution effect, the labor supply curve is horizontal at the equilibrium wage
Indicate whether the statement is true or false
When prices of new houses rise significantly faster than rent prices, this is evidence of a:
A) debt-deflation process B) bubble C) financial crisis D) sovereign debt crisis