The idea that nominal variables are heavily influenced by the quantity of money and that money is largely irrelevant for understanding the determinants of real variables is called the
a. velocity concept.
b. Fisher effect.
c. classical dichotomy.
d. Mankiw effect.
c
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An example of someone bearing the burden of a negative consumption externality would be
A) Taylor living downwind from a feedlot. B) LaShawn grows beautiful roses in her garden. C) Jess's roommate smokes and she doesn't. D) All of these are examples of someone bearing the burden of a negative consumption externality. E) None of these is an example of someone bearing the burden of a negative consumption externality.
A good is nonrivalrous in consumption if
A. its consumption by one person does not reduce its consumption by others. B. its consumption by one person reduces its consumption by others. C. it is possible, or not prohibitively costly, to exclude someone from receiving the benefits of the good once it has been produced. D. it is impossible, or prohibitively costly, to exclude someone from receiving the benefits of the good once it has been produced. E. a and d
If a pre -merger Herfindahl-Hirschman Index (HHI) is greater than ________, the market is considered not competitive and any merger receives a high level of scrutiny.
A) 1,500 B) 5,500 C) 500 D) 2,500
At the market output and price for a good whose production causes pollution,
a. pollution is eliminated b. the marginal social cost of production exceeds the marginal social benefit of production c. the private cost of production equals the private benefit of production d. the marginal social benefit of production equals the marginal social cost of production e. too little of the good is produced