Given that most people like the smell of baking cinnamon rolls and dislike the smell of burning tires, baking cinnamon rolls generates ________ externality, and burning tires generates ________ externality.
A. no; a negative
B. a positive, no
C. a positive; a negative
D. a negative; a positive
Answer: C
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Both price floors and price ceilings lead to
a. shortages. b. surpluses. c. reductions in quality. d. a reduction in the quantity traded.
Answer the following statement(s) true (T) or false (F)
1. A borrower sells bonds, and a lender buys bonds. 2. A change in the price of bonds causes a change in interest rates. 3. A bond that promises a series of payments on different dates is a perpetuity. 4. It would be irrational to promise to make an infinite number of payments in exchange for a finite amount of goods. 5. The present value of a perpetuity falls when the interest rate rises.
The federal government’s principal tool in altering consumer spending is changing
A. corporate income taxes. B. federal sales taxes. C. unemployment insurance benefits. D. personal income tax rates.
Describe the unemployment situation after the Great Recession.
What will be an ideal response?