Which of the following is associated with increased use of solar panels?
a. negative production externalities
b. positive production externalities
c. negative consumption externalities
d. positive consumption externalities
Ans: d. positive consumption externalities
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When prices do not change very much, the income-expenditure model can be used to understand economic fluctuation in the
A) long run. B) fiscal year. C) short run. D) federal budget allocation.
Suppose Joe can prepare 10 sandwiches or 5 pizzas in an hour and Beth can produce 12 sandwiches or 9 pizzas. Which of the following is TRUE?
A) Beth should produce pizza because she has a higher opportunity cost of producing pizza than does Joe. B) Beth should produce pizza because she has a lower opportunity cost of producing pizza than does Joe. C) Joe should produce pizza because he has a higher opportunity cost of producing pizza than does Beth. D) Joe should produce pizza because he has a lower opportunity cost of producing pizza than does Beth.
If a monopolist is producing the quantity at which marginal revenue equals marginal cost, it should
A) continue to produce this amount if it wants to maximize profits. B) reduce output if it wants to maximize profits. C) increase price and keep output unchanged if it wants to maximize profits. D) increase output if it wants to maximize profits.
If more people join carpools and travel to work together
A) the demand curve for freeway space shifts leftward. B) the supply curve for freeway space shifts rightward. C) the supply curve for freeway space shifts leftward. D) a and b E) none of the above