Dumping raw sewage into Boston Harbor is an example of
a. a negative externality
b. a positive externality
c. a private cost
d. a sunk cost
e. an inverse cost
A
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For a monopolistically competitive firm, the demand curve
A) is a horizontal line. B) has a positive slope. C) is vertical. D) has a negative slope. E) is the same as the marginal revenue curve.
The demand curve in the figure above illustrates the demand for a product with a price elasticity of demand
A) equal to zero at all prices. B) equal to infinite at all prices. C) equal to one at all prices. D) that is different at all prices.
If the economy in the graph shown is currently at point B, and the government enacts contractionary fiscal policy, in the short run the economy will most likely move to point:
A. A
B. It is likely to be unaffected and stay at point B
C. C
D. D
A perpetuity is
a. a financial intermediary that has existed throughout recorded history. b. an instrument of equity finance. c. a stock that pays dividends forever. d. a bond that pays interest forever.