A positive externality is:
A. an external benefit.
B. an external cost that affects the buyer.
C. an external cost that affects the seller.
D. a benefit that affects the buyer, not the seller.
A. an external benefit.
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Expansionary monetary policy consists of all of the following EXCEPT
A) open market sales. B) lower interest rates. C) increased monetary base. D) increased money supply.
The amount that a seller is paid for a good minus the seller’s actual cost is called:
a. producer surplus. b. consumer surplus. c. total surplus. d. demand surplus.
Now that Social Security payments are indexed the:
A. nominal value is adjusted to maintain a constant real value. B. payments are adjusted so retirees can buy more with their payments over time. C. payments are not adjusted enough, so retirees can buy less with their payments over time. D. real value is adjusted to maintain a constant nominal value.
The lowest possible unemployment rate that will not cause the inflation rate to increase is called:
A. the natural rate of unemployment. B. "full employment." C. the nonaccelerating inflation rate of unemployment (NAIRU). D. All of these statements are true.