A Pigouvian tax corrects for
A. market congestion.
B. market losses.
C. inefficient sales.
D. low market prices.
D. low market prices.
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An outward shift of the production possibilities curve demonstrates
A) economic growth. B) an increased rate of inflation. C) a cyclical shock. D) a recession.
Based on the data in the table above, at the short-run equilibrium
A) the unemployment rate is less than the natural unemployment rate. B) the unemployment rate is greater than the natural unemployment rate. C) the money wage rate will rise in the long run. D) the economy is at full employment.
The purpose of __________ is to cover everyone over 65 years of age and reduce the financial burden of illness on the elderly
a. Social Security b. Medicaid c. Medicare d. AFDC e. Americorps
A firm that is the only seller of a good with no close substitutes is a(n)
A. perfect competitor. B. monopolist. C. monopolistic competitor. D. oligopolist.