The marginal benefit of reducing pollution
A. Rises as the environment gets cleaner.
B. Falls as the environment gets cleaner.
C. Is not an issue in determining the optimal rate of pollution.
D. Is constant.
Answer: B
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The monetary base:
a. Includes currency in circulation, checking accounts, and near money. b. Includes currency in circulation, checking accounts, and near money. c. Includes currency in circulation, cash in the vaults of financial intermediaries (e.g., banks), and deposits of financial intermediaries at the central bank. d. Is equal to currency in circulation. e. Includes all liquid assets in a nation that can be spent
A public good is
A. any good provided by government. B. a good that can be most cheaply provided by government, though it may in fact be provided by private enterprise. C. a good whose benefits cannot readily be restricted to a small group of people. D. a good whose benefits cannot be enjoyed by an individual alone.
Double-entry bookkeeping implies that:
A. aggregate income net of profits is less than the value of final output because profit can add or take away from final output. B. profits fill the gap between the sum of employee compensation, rents and interest on the one hand and the value of final output on the other hand. C. profits cannot be negative because profit equals the value of final output less costs. D. aggregate income net of profits is greater than the value of final output because profit can add or take away from final output.
Price discrimination only occurs when consumers have only partial information about a product's price and availability.
Answer the following statement true (T) or false (F)