Which of the following is a measure taken by the government to internalize externalities?
a. Value Added Tax
b. Income Tax
c. Cap and trade
d. Tariffs
e. Deficit financing
c
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A monopsony is characterized as a market which has:
A. many buyers and one seller. B. one buyer and many sellers. C. many buyers and many sellers. D. one buyer and one seller.
In a community where poor people do not hang out with members of the opposite sex until they are 21 years old, the opportunity cost of hiring a babysitter on weekends will be
What will be an ideal response?
The short-run shutdown price occurs where price equals
A) MC. B) AVC at any point. C) AVC at the minimum point. D) AFC at the minimum point.
All of the following are reasons that trade between nations is beneficial EXCEPT
A. gains from trade. B. protection of domestic industries. C. gains from specialization. D. exchange of ideas.