If a production process generates pollution, then a competitive market will
A) produce more of the good than is socially optimal.
B) produce less of the good than is socially optimal.
C) produce the socially optimal quantity of that good.
D) produce zero output.
A
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Starting in 2008 and continuing into 2012, the Japanese yen kept appreciating against the U.S. dollar, hurting Japanese exports to the U.S
Indicate whether the statement is true or false
Imports are leakages from the circular flow of income and expenditure model
a. True b. False Indicate whether the statement is true or false
Answer the following questions true (T) or false (F)
1. Stagflation refers to when the general economy is experiencing a falling unemployment rate and a rising inflation rate. 2. The unemployment of capital can be expressed in terms of the manufacturing capacity utilization rate. 3. The consumer price index or CPI is given by the cost of a standard market basket of goods and services in the current period relative to the GDP implicit price deflator.
The points outside the production possibilities frontier are
A) efficient. B) attainable. C) inefficient. D) unattainable.