When there is a negative externality, the marginal private cost of production ________ the marginal social cost of production
A) is greater than
B) is equal to
C) eliminates
D) is less than
Answer: D
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"Laboratories of democracy" refers to the fact that having many governments at different levels _____
a. allows for experimentation b. allows for replication of successful policies c. allows for the optimal provision of scientific knowledge d. a and b
The following is an example of risk aversion
a. those applying for a well-paid job tend to be unqualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is the most qualified d. Initial Public Offerings (IPOs) seek investors when prospects look good
If the wage rate in a monopsonistic industry is $15, the marginal factor cost will be:
a. $0. b. $1. c. $15. d. greater than $15. e. less than $15.
A lack of understanding regarding the current state of the economy creates:
A. an information lag. B. a formulation lag. C. an implementation lag. D. a direction lag.