A decrease in government spending will decrease the equilibrium price level and decrease aggregate output, ceteris paribus.
Answer the following statement true (T) or false (F)
True
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Assuming that the marginal social benefit (MSB) of environmental quality is known, then
a. theMSB represents the demand for environmental quality b. total social benefits (TSB) of abatement, A1, can be captured as an area under the MSB up to A1 c. incremental benefits are measured as an area under the MSB between the pre- and post-policy abatement levels d. all of the above e. none of the above
What are the trade-offs involved in shortening the length of a patent for pharmaceuticals?
What will be an ideal response?
The idea of comparative advantage is related to
A) the idea of opportunity cost. B) the idea of absolute advantage. C) using the worker with the most diverse sets of skills. D) engineering efficiency.
Kyle puts a greater proportion of his portfolio into government bonds. Kyle's action
a. increases both risk and the average rate of return. b. decreases both risk and the average rate of return. c. increases risk, but decreases the average rate of return. d. decreases risk, but increases the average rate of return.