Government often finds it difficult to cope with externalities because
a. costs and benefits are difficult to assess in monetary terms.
b. taxes and subsidies are ineffective in equating MSC and MSB.
c. government has no authority to impose fines for air and water pollution.
d. marginal private cost curves cannot be shifted.
a
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Fractional reserve banking began
A) in ancient Greece. B) in the early nineteenth century. C) in the early twentieth century. D) in the Middle Ages.
The federal government debt equals
A) the accumulation of past budget deficits. B) tax revenues minus government spending. C) the total value of U.S. Treasury bonds outstanding. D) government spending minus tax revenues.
A popular entertainer gives a concert in a 50,000 seat stadium. To give her fans a break, she charges only $50 a seat instead of the customary $75 a seat
At $75 a ticket, there would have been 50,000 tickets sold, and at $50, there are 80,000 people who want tickets. As a consequence of the generosity of the entertainer A) her fans are made better off. B) a more fair system of pricing the tickets has been found. C) another type of system will have to be found to allocate the tickets, making some of her fans better off and others worse off. D) her fans are made worse off since there is an excess demand of 30,000 tickets.
What are the main features of the Robinson-Patman Act?
What will be an ideal response?