In general, pollution exists if
A) people are unconcerned about the hazards associated with pollution.
B) there are poorly defined private property rights.
C) there are poorly defined common property rights.
D) profit-making activity is taken to an extreme.
Answer: B
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At macroeconomic equilibrium, total ________ equals total ________
A) consumption; production B) taxes; transfers C) investment; inventories D) spending; production
The law of diminishing marginal utility states that as additional units are consumed, satisfaction per unit will decline
a. True b. False Indicate whether the statement is true or false
Assume that a product upgrade strategy adopted by a microwave oven manufacturer increases his marginal cost by $1.50 . If the strategy also increases the demand for the product by $3.50 per unit, total economic value will increase
Indicate whether the statement is true or false
If the required reserve ratio is a uniform 25 percent on all deposits, the money multiplier will be:
A. 4.00. B. 2.50. C. 0.40. D. 0.25.