Physical capital
a. Land materials ...trees
b. The stock of equipment and building that used to produce goods and service
b. The stock of equipment and building that used to produce goods and service
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If the government wanted to efficiently limit the emission of carbon monoxide by all firms to exactly 4 million tons it could
A) issue rights to pollute worth 4 million tons and let the firms trade those rights in a market. B) appeal to firms' environmental conscience to pollute less. C) subsidize production. D) rely on the Coase Theorem.
Costs of unemployment include
A) structural unemployment. B) the output lost due to the fact that the economy is not running at full employment. C) reduction in the labor force. D) higher wages.
Does monetary policy require the accompaniment of fiscal policy to change total spending?
A) No, because the Fed is an independent agency of the federal government. B) Yes, because monetary policy can contract total spending but cannot by itself expand it. C) Yes, because no policy is effective if it only changes nominal money values. D) Yes, if the demand for money tends to change in about the same direction and amount whenever the supply changes.
China's economy did not decline at all during its transition from communism to capitalism
Indicate whether the statement is true or false