Explain why state governments may charge a fee for beach access to address the commons problem
What will be an ideal response?
A fee may be charged to impose some of the social costs on the individual. The government is attempting to reduce over-use of the beach by forcing those who use it to pay for some of the costs they impose.
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One example of a Phillips Curve would be a
A) positive relationship between deviations from trend in real and nominal interest rates. B) negative relationship between deviations from trend in real and nominal interest rates. C) positive relationship between deviations from trend in the level of prices and the level of aggregate economic activity. D) negative relationship between deviations from trend in the level of prices and the level of aggregate economic activity.
One kind of gain from specialization is that
a. most individuals gain at the expense of someone else b. people develop expertise c. people get to do only what they like d. people cannot be bossed around e. people gain political power
A feature of a healthy macroeconomy is high inflation
a. True b. False Indicate whether the statement is true or false
Which of the following did the Fed do during the recession of 2008-2009?
a. lowered the federal funds rate and sold securities and loans b. lowered the federal funds rate and purchased securities and loans c. raised the federal funds rate and sold securities and loans d. raised the federal funds rate and purchased securities and loans