Externalities can be difficult to detect in open economies.
A. True
B. False
C. Uncertain
C. Uncertain
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When production moves from the efficient quantity to a point of overproduction,
A) consumer surplus definitely increases. B) the sum of producer surplus and consumer surplus increases. C) there is a deadweight loss. D) consumers definitely lose and producers definitely gain. E) consumers definitely gain and producers definitely lose.
In the Keynesian cross diagram, a decline in autonomous consumer expenditure causes the aggregate demand function to shift ________ and the equilibrium level of aggregate output to ________, everything else held constant
A) up; rise B) up; fall C) down; rise D) down; fall
If a firm buys its labor in a competitive market, then in the short run, a decrease of the demand for the firm's product will cause the firm to
A) offer a higher wage. B) hire fewer workers. C) hire more workers. D) offer a lower wage.
The Robinson-Patman Act of 1936 amended the: a. Sherman Act
b. Clayton Act. c. Federal Trade Commission Act. d. Wagner Act.