A decrease in government spending is one of the options that can be used to pursue a contractionary fiscal policy.
Answer the following statement true (T) or false (F)
True
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The Coase Theorem states that ________
A) positive externalities lead to higher market prices B) negative externalities lead to lower equilibrium output C) transaction costs are higher in free markets D) negotiation between economic agents leads to an efficient allocation of resources
The difference in wages paid to major-league baseball players and minor-league baseball players is most likely due to
a. differences in chance. b. differences in natural ability. c. the fact that the players' union is strong. d. a compensating differential.
Which of the following is a nonmarket good?
A) the corn you grow in your home garden and consume B) the clothes you sew and sell to a neighbor who pays you by writing you a check C) the self-portrait hanging in your den D) a and c E) a, b, and c
Output Total Cost015125233340448558670
Refer to Table 5.5. The total fixed cost of producing two units is:
A. $0. B. $8. C. $11. D. $15.