An externality affecting demand can be measured graphically as the
A. Horizontal distance between the market demand curve and the social demand curve.
B. Vertical distance between the market demand curve and the social demand curve.
C. Height of the market demand curve at all points.
D. Height of the social demand curve at all points.
Answer: B
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The current chairman of the Federal Reserve System is
A) Ben Bernanke. B) Alan Greenspan. C) President Obama. D) Janet Yellen.
How does the Fed Open Market Committee increase the money supply?
Real GDP per person equals average labor productivity:
A. times one minus the unemployment rate. B. times the share of population employed. C. times the labor force participation rate. D. minus the share of population employed.
Other things being equal, the less elastic demand is: a. the lower the deadweight loss is resulting from the imposition of a given tax on a product. b. the greater the burden is of the tax borne by consumers
c. the greater the tax revenue collected by the government is. d. all of the above