Which of the following is not a solution to the problem of negative externalities due to pollution?
a. create private property rights
b. levy pollution taxes
c. create obligatory controls
d. subsidize the production of the goods
e. establish strict limits on the amount of pollution allowed
D
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At a certain level of production, the marginal revenue and marginal cost of a monopolist are $8 and $6, respectively. Which of the following statements is true in this context?
A) The monopolist should expand production. B) The monopolist should contract production. C) The profits of the monopolist are maximized. D) The profits of the monopolist are minimized.
One consequence of an increase in government spending is that
a. autonomous consumption will increase b. autonomous consumption and investment spending will decrease c. the increase in GDP will equal the size of the amount of spending d. autonomous consumption and investment spending will increase e. investment spending will increase
What is the proper sequence of the phases of a business cycle?
A) peak, contraction, trough, expansion, recovery B) peak, contraction, recovery, trough, expansion C) peak, contraction, trough, recovery, expansion D) contraction, peak, trough, recovery, expansion E) recovery, trough, peak, expansion, contraction
The fraction of additional income that households will spend on consumption is called;
(a) The marginal propensity to consume; (b) The average propensity to consume; (c) The Keynesian multiplier; (d) All of the above.