Pollution arises because
a. the atmosphere is a nonrenewable resource
b. the atmosphere is a renewable resource
c. of enforceable property rights
d. the atmosphere is an open-access resource
e. there is no supply of pollution curve
D
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The above figure shows the marginal private benefit and marginal social cost of a college education. If society's external benefits from college graduates is $10,000 each, then the
A) marginal social cost curve lies $10,000 to the left of the private marginal benefit curve. B) marginal social cost curve lies $10,000 to the right of the private marginal benefit curve. C) marginal social benefit curve lies $10,000 below the private marginal benefit curve. D) marginal social benefit curve lies $10,000 above the private marginal benefit curve.
An increase in the real interest rate will decrease consumption and investment
Indicate whether the statement is true or false
Initially, the economy is at point B on Figure 10-3 above. We conclude that before adjustment,
A) per person savings is at point D and the level of steady state investment is at point C. B) per person savings is at point E and the level of steady state investment is at point E. C) per person savings is at point G and the level of steady state investment is at point E. D) per person savings is at point C and steady state investment is at point D.
Unemployment insurance provided by the U.S. government is usually funded by:
a. the excise duties imposed on the import of foreign goods. b. the national tax on payrolls levied on firms. c. external borrowing by the U.S. government. d. printing new money. e. selling off government bonds.