Portney's research of the 1990 Clean Air Act Amendments (CAAA) finds that MSC exceeds MSB. Based on this finding, one can conclude that
a. the CAAA are allocatively efficient
b. TSC exceed TSB
c. these amendments are inefficient but cost-effective
d. the CAAA over-regulate society
d. the CAAA over-regulate society
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If prices in the bond market become more volatile, everything else held constant, the demand curve for bonds shifts ________ and interest rates ________
A) left; rise B) left; fall C) right; rise D) right; fall
Government expenditures for Social Security and unemployment benefits are examples of
a. government consumption. b. government investment. c. government purchases. d. transfer payments.
The aggregate demand curve shows the relationship between planned purchases of
A. all final goods and services and total planned production. B. all final goods and services and nominal GDP. C. all final goods and services and interest rates. D. all final goods and services and the price level.
With microfinance, the mechanism of peer lending is a way to avoid the problem of
A. imperfect information. B. a double coincidence of wants. C. capital flight. D. the tragedy of the commons.