Does research into new technologies create a positive externality or does it create a negative externality?
Research into new technologies creates a positive externality.
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According to the criteria of cost-effectiveness, an abatement standard is set optimally if
a. that standard is benefit-based b. it is set where the MSB of abatement is equal to ?(MACmkt + MCE). c. the standard is reached at minimum cost d. it is set at the point where MSB of abatement equals zero e. it is set at the point where MSC of abatement equals zero
Which of the following correctly describes a way in which deficit spending can impose a burden on future generations?
I. Failure to allocate deficit spending to uses that boost future real Gross Domestic Product (GDP) will require taxing future generations at a higher rate to repay the resulting higher public debt. II. Government deficits that lead to higher employment and real Gross Domestic Product (GDP) in the future will generate increased income taxes for future governments, which will respond by spending the higher tax revenues, creating higher future government budget deficits. III. Other things being equal, deficit spending fuels increased consumption of goods and services by the current generation that crowds out capital investment, thereby leaving future generations with a smaller stock of capital than otherwise would have existed. A) I only B) II only C) I and III only D) II and III only
Explain the process by which the banking system creates money
What will be an ideal response?
The relationship between output and employment is known as
A) the Phillips curve. B) the Beveridge curve. C) the Diamond paradox. D) Okun's Law.