There is an inverse relationship between the price level and aggregate expenditures
Indicate whether the statement is true or false
T
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Which of the following might be a way that an automobile driver's pollution costs could be internalized?
A) The driver could purchase abatement equipment for her car. B) The state could eliminate the gas tax. C) The state could pay a gas subsidy for everyone who drives. D) The state could allow her to drive in the HOV lane.
Research into new technologies provides a
a. negative externality, and too few resources are devoted to research as a result. b. negative externality, and too many resources are devoted to research as a result. c. positive externality, and too few resources are devoted to research as a result. d. positive externality, and too many resources are devoted to research as a result.
Use the figure to calculate the income elasticity of demand when income increases from $25,000 to $30,000:
A. -0.1818 B. -1.0 C. 0.1818 D. 1.2 E. -1.5
Describe the gravity model of international trade.
What will be an ideal response?