Public goods are
a. valuable socially.
b. not depletable and not excludable.
c. subject to the "free rider" problem.
d. All of the above are correct.
d
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An economy’s production possibilities curve could shift outward as a result of a(n)
a. increased level of technology. b. reduction in the quantity of capital goods. c. decrease in the production of goods. d. decrease in the amount of available resources.
If the reserve ratio was 100 percent, then:
A. maximum lending would occur. B. banks would create money in the economy. C. banks would lend all of their deposits. D. no lending would occur using deposits.
Equilibrium in the money market occurs when:
A. the quantity of money demanded equals the quantity of money supplied. B. the quantity of money demanded is less than the quantity of money supplied. C. the quantity of money demanded is more than the quantity of money supplied. D. the interest rate equals the money supply.
Which of the following methods could be used to correct for external costs?
A) Impose a tax or an effluent fee on the offenders. B) Have the offender clean up the pollution it caused. C) Require firms in the industry to install pollution control devices. D) All of the above would be appropriate.