Which of the following statements is not correct?
a. A patent is a way for the government to encourage the production of a good with technology spillovers.
b. A tax is a way for the government to reduce the production of a good with a negative externality.
c. A tax that accurately reflects social costs produces the socially optimal outcome.
d. Government policies cannot improve upon private market outcomes.
d
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When the Fed purchases government securities ________ loans end up being made because ________
A) more; excess reserves in the banking system increase B) fewer; excess reserves in the banking system decrease C) more; excess reserves in the banking system decrease D) fewer; required reserves in the banking system increase but desired reserves decrease E) fewer; excess reserves in the banking system increase
Research indicates that which one of the following factors likely gave rise to increased obesity in the U.S.?
(a) Advancements in modern cooking technology (b) Increased consumption of restaurant and fatty foods (c) A shift from exercise in leisure to labor (d) All of the above
If the total variable cost of producing 5 units of output is $10 and the total variable cost of producing 6 units is $15, the marginal cost of producing a sixth unit is $5
a. True b. False Indicate whether the statement is true or false
Economists attribute the high Gini coefficients among less-developed countries primarily to their
a. predominantly agricultural economies b. unstable political systems c. inadequate transportation systems d. large untapped natural resources e. proximity to industrial economies