In which of the following years was there a recession?
A. 1942
B. 1950
C. 1965
D. 1973
D. 1973
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The problem with a detailed federal government budget is that: a. monetary policy becomes more difficult to implement
b. it reduces the flexibility of discretionary fiscal policy. c. Congress cannot keep it up to date. d. there is a shortage of congressional committees that deal with the budget. e. there is a short review period, resulting in poor choices in funding programs.
The price of a drink at the juice bar is $7. Melody Miller buys six carrot juices over the course of the afternoon.
A. She is enjoying a consumer surplus. B. She is not enjoying a consumer surplus. C. There is no way to determine whether or not she is enjoying a consumer surplus.
Over time, quotas usually lead to larger deadweight losses than tariffs
Indicate whether the statement is true or false
Air pollution is an example of a negative externality.
Answer the following statement true (T) or false (F)