To maximize the social pie, a tax on pollution must equal the external cost created by the polluting activity
Indicate whether the statement is true or false
TRUE
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If the economy is at point R, most likely this economy is experiencing __________.
A budget philosophy using fiscal policy to achieve the economy's potential GDP, rather than balancing budgets either annually or over the business cycle, is termed: a. budget finance
b. functional finance. c. crowding out. d. crowding in. e. deficit finance.
The laws governing patents and copyrights
a. eliminate the need for firms to engage in research and development. b. are intended to serve private interests, not the public's interest. c. reduce fixed costs for firms that obtain them. d. None of the above is correct.
Karl Marx was a supporter of:
(a) Capitalism. (b) Free markets. (c) A command or centralised economy. (d) None of the above.