Social welfare can be enhanced by allowing firms to trade their rights to pollute
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in the price of a firm's good or service shifts its demand curve for labor leftward
Indicate whether the statement is true or false
What is the difference between total utility and marginal utility?
What will be an ideal response?
When an economy is in a liquidity trap
A) monetary policy cannot be used to influence the exchange rate. B) monetary policy can be used to drive interest rates down, but not to drive them up. C) there is an excess demand for bonds. D) people and institutions avoid holding cash balances. E) it can escape only by introducing a hard, or illiquid, currency.
A survey of professional economists revealed that more than three-fourths of them agreed with a number of statements, including which of the following?
a. Tariffs and import quotas usually reduce general economic welfare. b. A large federal budget deficit has an adverse effect on the economy. c. Minimum wage increases unemployment among young and unskilled workers. d. All of the above are correct.