Which of the following provides a positive externality?
a. smog
b. inoculating children against measles
c. hamburgers
d. litter
e. an increase in your earnings
B
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If you sell your textbook to your friend this year, does the sale count in this year's GDP?
What will be an ideal response?
The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent
The "Buy American" provision would ________ consumer surplus and ________ producer surplus for industries that produced protected products in the United States. A) decrease; increase B) decrease; decrease C) increase; increase D) increase; decrease
________ theory relates the quantity of money and monetary policy to changes in aggregate economic activity and inflation
A) Monetary B) Fiscal C) Financial D) Systemic
Suppose equilibrium national income is currently at $800 billion and intended investment is $100 billion. If an increase in the interest rate reduces intended investment from $100 billion to $75 billion, and the MPC is 0.8, the new level of equilibrium national income will be
a. $500 billion b. $600 billion c. $675 billion d. $775 billion e. $800 billion