There is an empty lot between a playground and a storage unit that has become filled with garbage and overgrown weeds. The lot is surrounded by a fence with a gate. Pipes run beneath it so that anything built there could have access to the city sewer and water supply. Which aspect of the empty lot would economists label as “bads”?
a. the access to water and sewer
b. the proximity to the playground and storage unit
c. the garbage and weeds
d. the fence and the gate
c. the garbage and weeds
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You withdraw $2,000 from your account. Your bank has a desired reserve ratio of 20 percent. This transaction, by itself, will directly reduce
A) the quantity of money by $1,600. B) deposits by $1,600. C) the quantity of money by $2,000. D) deposits by $2,000.
Describe the difficult choices in macroeconomic policy that Argentina faced in the late 1990s
What will be an ideal response?
Which of the following are arguments against taxing unrealized capital gains?
a. A person might have to sell an asset in order to pay the tax on it. b. It might be difficult to determine the increase in valuation. c. It increases the incentive to hold onto appreciated assets. d. a and b e. b and c
If Papagna's Pizza Parlor knows that the marginal cost of the 500th pizza is $3.00 and that the average total cost of making 499 pizzas is $3.30, then
a. average costs are rising at Q = 500 b. average costs are falling at Q = 500 c. total costs are falling at Q = 500 d. average variable costs must be falling e. average variable costs must be rising