When a person smokes a cigarette in his car and throws the butt out of the window, this is a(n)
A) marginal cost.
B) external cost.
C) average total cost.
D) public cost.
B
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Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve. As a result
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease. D) the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.
Which of the following occurs during a recession?
a. Output falls, employment rises, and unemployment rises. b. Output rises, employment falls, and unemployment falls. c. Output falls, employment falls, and unemployment rises. d. Output rises, employment rises, and unemployment falls. e. Output falls, employment falls, and unemployment falls.
Over $140 billion was spent on transportation in 2007, with the lion's share being handled by state and local governments. Roughly 78 percent of transportation spending was allocated to
a. enforcement of fuel efficient standards b. the highway system c. bridges d. city streets e. traffic lights
Which of the following is true?
a. Most stockholders own stock because they want to run the business. b. The shareholders of a large well-established firm can be reasonably sure that they will earn a real rate of return of about 7 percent in the future. c. Ownership of a corporate bond provides the bondholder with an ownership right to a fraction of the firm's future profits. d. Stock ownership makes it possible for investors to own a fractional share of a firm's future profits even if they do not participate in the operation of the firm.