An example of a positive externality is
A. Increased factory use of private sector robotics that came from government research.
B. Increased business profits at a hardware store that benefited from a tornado.
C. Increased health problems from air pollution.
D. None of the choices are correct.
Answer: A
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A demand schedule shows
A) the quantities that people plan to buy at each different income when all other influences on buying plans remain the same. B) the quantities that people would plan to buy if they could afford them at each different price when all other influences on buying plans remain the same. C) the quantities that people plan to buy at each different price when all other influences on buying plans remain the same. D) the quantities that people plan to buy in all possible circumstances. E) the quantities that people plan to buy at each different price as long as producers are willing to supply that quantity.
According to the quantity theory of money, money growth and inflation are
A) positively correlated. B) negatively correlated. C) independent, that is, not correlated. D) positively correlated if the inflation rate is positive and negatively correlated if the inflation rate is negative.
Suppose labor demand can be described as ED = 120,000 ? 1.5w where w is yearly salary. How many more workers are demanded at a going wage of $60,000?
A. 50,000 B. 30,000 C. 20,000 D. 60,000 E. 40,000
Economists
A) describe reducing tariffs and quotas as shallow integration. B) describe reducing tariffs and quotas as deep integration. C) believe that changing domestic policies affecting trade is a relatively simple process. D) believe that the work of reducing trade barriers is done since most tariffs are low and most quotas eliminated.