What is the economically efficient level of emissions from a particular source?
a. zero
b. the quantity at which the marginal cost to achieve lower emissions equals the additional value of reducing pollution
c. the level determined by EPA (Environmental Protection Agency) scientists that will save the most lives
d. the level emitted when markets are allowed to function with no government regulation
B
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Discrimination ________ the group being discriminated against and ________ the group being favored
A) decreases the demand for; increases the demand for B) increases the demand for; decreases the demand for C) decreases the supply of; increases the supply of D) increases the supply of; decreases the supply of
Why is the balance of payments always zero?
What will be an ideal response?
Refer to Figure 4.1. All else equal, a decrease in the government's budget deficit will cause
A) a shift from S1 to S2. B) a shift from S2 to S1. C) a change in the interest rate from r2 to r1. D) a change in loanable funds from L2 to L1.
The microeconomic view of the expectations of inflation are based on the assumption that
A. individuals are rational, forward-looking people. B. people always assume that inflation will be zero. C. individuals will merely guess at what the inflation rate will be. D. individuals are highly sophisticated in their economic thinking.