The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is ________ tons per week
A) 5
B) 10
C) 15
D) 20
E) 25
C
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If you grant that the long-term benefits of Head Start are in doubt and focus, instead, on the short-term benefits, you find that
A. children in Head Start are more likely to need special education classes. B. children in Head Start are less likely to repeat first or second grade. C. Head Start has no effect there either. D. Head Start children do much worse in Kindergarten.
Which of the following tools of monetary policy has not been used since 1992?
A. Interest on reserves. B. The reserve ratio. C. Open-market operations. D. The federal funds rate.
Which of the following is NOT a disadvantage of exchange-rate targeting?
A) It relies on a stable money-inflation relationship. B) The targeting country gives up an independent monetary policy. C) The targeting country is left open for a speculative attack. D) It can weaken the accountability of policymakers.
Since countries differ in the amount of economic activity that is transacted in organized markets,
A. some countries are more productive than others. B. persons live better in some countries than others. C. international comparisons of per capita GDP are often misleading. D. comparisons between countries are totally impossible.