The degradation of the environment from litter is a
a. a negative externality.
b. free rider problem.
c. Tragedy of the Commons.
d. Both a and c are correct.
d
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An increase in the real interest rate ________ the quantity of loanable funds supplied and ________ the quantity of loanable funds demanded
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
In a short-run macroeconomic equilibrium, potential GDP exceeds real GDP. If aggregate demand does not change, then the
A) short-run aggregate supply curve will shift rightward as the money wage rate falls. B) short-run aggregate supply curve will shift leftward as the money wage rate rises. C) long-run aggregate supply curve will shift leftward as the money wage rate rises. D) long-run aggregate supply curve will shift leftward as the money wage rate falls.
Which of the following statements is true?
A. The Phillips curve has always been stable. B. If the Phillips curve shifts outward to the right this illustrates a greater tradeoff between unemployment and inflation. C. Keynesian economics assumes a vertical Phillips curve. D. According to the natural rate hypothesis the Phillips curve is downward sloping.
If Congress passes legislation to increase government spending to counter the effects of a recession, then this would be an example of a(n):
A. Supply-side fiscal policy B. Expansionary fiscal policy C. Contractionary fiscal policy D. Nondiscretionary fiscal policy