Basic supply and demand analysis can be used to explain how externalities lead to environmental problems.
Answer the following statement true (T) or false (F)
True
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What happens as the result of a surplus?
A) There is downward pressure on prices. B) There is upward pressure on prices. C) Consumers begin to view the good as an inferior good because it is too commonplace. D) Demand for the good increases.
The problem of "double marginalization" is
a. The retail price being too low due to an absence of both manufacturer and retailer markup b. The retail price being too high due to the existence of both manufacturer and retailer markup c. The retail price consisting only of the manufacturer markup d. The retail price consisting only of the retailer markup
Which of the following could cause the supply curve of loanable funds to shift to the right?
a. increase in productivity b. increase in the rate of interest c. decrease in the rate of interest d. decrease in productivity e. expectation that future prices will decrease
Which of the following characteristics of money can be found in bars of gold?
a) portability, uniformity, and stability in value b) portability and acceptability c) uniformity, acceptability, and stability in value d) uniformity and durability e) portability and stability in value