Environmental problems result when social costs and benefits are different from private costs and benefits
a. True
b. False
A
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Refer to Table 17-2. The marginal revenue product of labor from the third unit of labor is
A) $5,460. B) $1,560. C) $1,260. D) $780.
Refer to above figure. Imagine that the relative capital abundance of Australia was so much greater than that of Sri-Lanka, that we would have to locate Australia far to the right on the K/L axis
If this were so far to the right that there was no area of overlap on the w/r axis, then what product would Australia export? Which product will each of the trade partners export? Will the relative wages as calculated now be the same or different in both Australia and Sri Lanka?
To raise economic growth, a tighter fiscal policy should be accompanied by a ________ money supply in order to keep the ________ from falling
A) larger, output ratio B) larger, real interest rate C) smaller, output ratio D) smaller, real interest rate
In a move up the IS curve,
A) investment rises. B) output falls. C) the real interest rate falls. D) saving rises.