Pollution is an example of a ________ externality
A) negative production
B) positive production
C) negative consumption
D) positive consumption
E) Coasian
A
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Entry into the information technology industry becomes more attractive the more firms there are because of the increased availability of already trained workers. Given this trend, it appears that information technology is
a. an increasing-cost industry. b. a constant-cost industry. c. a decreasing-cost industry. d. a government subsidized industry.
A pay-as-you-go system means
A. you pay for your dinner as you go to the table to eat. B. current working citizens pay for current retired citizens. C. there is no need for taxes since current workers pay for current retirees. D. retirees are paid from accounts that have accumulated with interest over their working lives.
Air quality in most U.S. cities has ____ since World War II
a. worsened b. improved c. remained unchanged d. improved slightly before a recent deterioration
Diminishing marginal product exists when the production function becomes flatter as inputs increase
a. True b. False Indicate whether the statement is true or false