A U.S. tariff on oil would reduce imports and raise the price of U.S. oil products.
Answer the following statement true (T) or false (F)
True
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If a product has zero external costs, then
A) marginal social cost equals marginal private cost. B) marginal social cost is greater than marginal private cost. C) marginal social cost is less than marginal private cost. D) marginal social cost equals zero. E) We need more information to determine the relationship between marginal private cost and marginal social cost.
Vaccinations tend to result in a positive externality
Indicate whether the statement is true or false
Future generations will be hurt by a high national debt if incurring the debt
a. was done to pay Social Security recipients. b. resulted in heavy commitments to bail out business firms. c. increased formation of capital. d. slowed the formation of capital.
The increase in the federal deficit due to the 2009 stimulus package may have had a smaller impact on the economy due to forward-looking households and firms
A) reducing consumption and investment expenditures in anticipation of future tax increases. B) purchasing more treasury securities to finance the stimulus package and purchasing fewer goods and services. C) taking advantage of the strong U.S. dollar to purchase more imported goods. D) waiting for the real interest rate to fall before borrowing to make long-term investments.