The intellectual leader of the monetarists was
A) Robert Lucas.
B) Milton Friedman.
C) John Maynard Keynes.
D) Paul Romer.
E) John Taylor.
B
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What does it mean for a producer to internalize an externality?
A) The producer is limiting outsourced production. B) The producer is prohibited from producing products which generate externalities. C) The producer must find ways to address externality problems which extend beyond geographic borders. D) The producer is forced to factor into production costs the cost of the externalities created in their production of output.
When a financial asset is first sold, the sale takes place in the ________ market, and subsequent sales take place in the ________ market
A) secure; risk B) stock; bond C) investment; commercial D) primary; secondary
If regulations create barriers to entry in an industry, the result can be _____
a. efficiency b. monopoly c. monopsony d. higher output
One important unintended consequence of the Smoot-Hawley Tariff Act was to:
a. lessen the severity of the Great Depression by increasing exports. b. provide the federal government with an effective tool for exercising monetary policy. c. increase the efficiency of domestic automobile production. d. increase the severity of the Great Depression by causing other countries to retaliate, and thus leading to a decline in exports. e. increase the U.S. government budget deficit by $15 million.