Over the last decade, foreigners have been exercising
A. a declining influence over interest rates in the United States.
B. an increasing influence over interest rates in the United States.
C. about the same influence over interest rates in the United States.
B. an increasing influence over interest rates in the United States.
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The graph below represents the market for walnuts. Identify the values of the marginal benefit and the marginal cost at the output levels of 2,000 pounds, 4,000 pounds, and 6,000 pounds
At each of these output levels, state whether output is inefficiently high, inefficiently low, or economically efficient.
Your school offers college seniors one "free" college course. Is this course also free to society?
A. Yes, because the seniors live in society. B. Yes, because the school has satisfied the assumption of making a rational choice. C. No, because if a college-senior takes the last seat in the class, t then a paying student will not have the opportunity to take it. D. No, because some students will not take a free class seriously and will ultimately become less productive workers.
One problem with the effectiveness of Pigovian taxes is:
A. the tax does not directly compensate those who are affected by the externality. B. knowing whether to impose it on the consumer or producer. C. the tax is always used to benefit those who bear the externalities. D. none of the above is a problem of Pigovian taxes.
Suppose that the development of a new type of circuit lowers the costs of production in the microcomputer industry, which is perfectly competitive. The long-run effect will likely be
a. lower price and larger output b. lower price and smaller output c. higher price and larger output d. higher price and smaller output e. no change in price or output