The socially optimal amount of pollution abatement may be less than 100 percent
a. True
b. False
A
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The impact of higher taxes would be examined by
A) a microeconomist. B) a macroeconomist. C) both a macroeconomist and a microeconomist. D) neither a macroeconomist nor a microeconomist.
The full opportunity costs of production are calculated as the sum of both explicit and implicit costs
Indicate whether the statement is true or false
In markets, prices move toward equilibrium because of
a. the actions of buyers and sellers. b. government regulations placed on market participants. c. increased competition among sellers. d. buyers' ability to affect market outcomes.
The Board of Governors of the Federal Reserve System has
A. 7 members serving 14 year terms. B. 12 members serving 14 year terms. C. 12 members serving 4 year terms. D. 7 members serving 4 year terms.