Externalities are unintended costs or benefits that are imposed on unsuspecting people and that result from:
a. poor planning.
b. intentional damages.
c. excessive costs.
d. excessive losses.
e. the economic activity of others.
e
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In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of $6 per hour will initially
A) increase employment from 20 to 40 million hours per year. B) increase employment from 30 to 40 million hours per year. C) decrease employment from 40 to 20 million hours per year. D) decrease employment from 30 to 20 million hours per year.
What causes a production possibilities frontier to shift outward?
What will be an ideal response?
You turn to the bond market page of a newspaper and look under the column headed "Close" and see that it says, "49 1/2" this indicates that
A. the closing price for the bond on this particular day is $495. B. the closing price for the bond on this particular day is $49.50. C. the closing price for the bond was $49.50 higher than on the previous trading day. D. the bond will mature on June 30, 2049.
Refer to the given data. If Alpha was producing at alternative B and Omega was at alternative C before trade, the gain from specialization and trade would be:
A. 30 tons of wheat.
B. 5 tons of steel.
C. 5 tons of steel and 15 tons of wheat.
D. 15 tons of steel and 5 tons of wheat.