If the production of a good generates a detrimental externality, then at that level of production of the good under perfect competition,
a. MSC > P.
b. MPC > MSC.
c. P > MU.
d. MPC > P.
a
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If two nations are equally armed it is highly likely that neither will initiate a conflict
a. True b. False
Jane is willing to pay $50 for the first ice cream, $40 for the second ice cream, $30 for the third, and $20 for the fourth. If each ice cream costs $20, Jane's total consumer surplus is _____
a. $60 b. $80 c. $50 d. $30
Controversies between Keynesian, monetarist, and supply-side theories focus on the
A. Usefulness of aggregate demand and supply to analyze adjustment of the macro equilibrium. B. Existence or nonexistence of the aggregate supply curve. C. Importance of international balances to the economy. D. Shape and sensitivity of aggregate demand and aggregate supply curves.
According to Robert Fogel, economic growth ________ health, and health ________ economic growth
A) improves; worsens B) improves; improves C) worsens; improves D) worsens; worsens