Skin cancer creates a public health externality
a. True b. False
b
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The above table shows a firm's
A) long-run costs. B) short-run costs. C) short-run and long-run costs. D) More information is needed to determine if the costs are long-run costs or short-run costs.
In the extended classical model, an anticipated decrease in the money supply would cause output to ________ and the price level to ________ in the short run
A) increase; decrease B) increase; remain unchanged C) remain unchanged; increase D) remain unchanged; decrease
According to the Gordon-Growth model, which of the following can cause the value of a stock to decline?
A) higher expected growth rate of dividends B) increase in the current dividend C) increased systemic risk D) decreased required return on equity
Suppose a factory pollutes a river that a downstream city relies on for drinking water. The level of pollution is not economically efficient. Which one of the following is not a possible means to increase economic efficiency in this case?
a. Government regulation requires a reduction in pollution levels b. The factory is taxed for each unit of pollution c. Property rights in pollution are clearly assigned to the factory d. Property rights in pollution are clearly assigned to the city e. The factory is required to pay increased property taxes to the city