As more pollution is abated, the total social benefit from pollution abatement increases
a. True
b. False
A
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With perfect price discrimination there is
A) an increase in consumer surplus. B) one single price. C) no deadweight loss. D) no producer surplus.
Suppose real GDP is $13 trillion and potential real GDP is $13.5 trillion. If Congress and the president increase government purchases by $500 billion, then the economy will be brought to equilibrium at potential real GDP
Indicate whether the statement is true or false
Another name for the contractionary phase of a business cycle is recession
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.