Which of the following might be considered a positive externality?
A) the pollination of an orange grove due to bees kept by a nearby beekeeper
B) individuals who did not get the flu, yet did not receive a flu shot when those around them did receive the shot
C) better fishing resulting from increased lake temperatures generated by the nearby power plant
D) All of the above are correct.
Answer: D
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Since most people prefer more money to less, the desire for more money
A) makes it difficult to induce people to cooperate. B) makes it difficult to induce people to sacrifice for the larger public good. C) makes social order highly unstable and unpredictable. D) can induce useful changes in behavior. E) implies people are living in a capitalist society.
The new growth theory that arose in the late 1980s has been described as ________ because it treats technological change as ________
A) exogenous, random unpredictable shocks B) exogenous, generated by market incentives C) endogenous, random unpredictable shocks D) endogenous, generated by market incentives
Which of the following statements is FALSE?
A) A perfectly inelastic supply curve is a vertical line. B) Time is an important consideration in determining supply elasticity. C) Price elasticity of supply can never equal 1. D) A horizontal supply curve is possible.
Microsoft has been accused of violating an antitrust law pertaining to bundling.
Answer the following statement true (T) or false (F)