If an externality is present in a market, economic efficiency may be enhanced by
a. increased competition.
b. weakening property rights.
c. better informed market participants.
d. government intervention.
d
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Decisions to cut taxes are made by ________ and are an example of ________ policy.
A. the Federal Reserve; fiscal B. Congress; fiscal C. Congress; monetary D. the President; monetary
The employment-to-population ratio equals
A) (labor force)/(working-age population) × 100. B) (number of people employed)/(labor force) × 100. C) (number of people with full-time jobs)/(labor force) × 100. D) (number of people employed)/(working-age population) × 100.
The level of saving in the United States has historically been low relative to the level of domestic investment. Based on this information, we would expect that
A) U.S. private saving is less than its public saving. B) U.S. capital inflows are negative. C) U.S. net foreign investment has been relatively high. D) U.S. net exports have been relatively low.
International resources shared by all countries such as oceans and air are known as
(a) global commons. (b) free rider problems. (c) nonrenewable resources. (d) cooperative resources.