If planned aggregate expenditure equals GDP, the economy is in macroeconomic equilibrium
Indicate whether the statement is true or false
TRUE
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When housing prices decrease, household wealth ________ and consumption ________.
A. increases; decreases B. increases; increases C. decreases; increases D. decreases; decreases
"When the cost of producing a unit of a good falls as its output rate increases" is the definition of
A) economies of scope. B) economies of scale. C) economic efficiency. D) technological efficiency.
Some policymakers have argued that products like cigarettes, alcohol, and sweetened soda generate negative externalities in consumption. If the government decided to impose a tax on soda, the government will cause
A) consumers to internalize the externality. B) producers to internalize the externality. C) the external cost to drinking soda to become a private cost paid by the government. D) the external cost to drinking soda to become a private cost paid by producers.
Discuss the case for a "super-regulator" in the context of what you have learned about "regulatory competition."
What will be an ideal response?