The outcome from a voucher scheme is efficient when the government makes the value of the voucher equal to ________
A) marginal external cost
B) marginal external benefit
C) external cost
D) external benefit
B
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Which of the following is NOT a reason for the government to regulate a nonmonopolistic industry?
A) to allow firms to achieve the profit maximizing output B) asymmetric information C) to protect consumer interests D) market failures
Exhibit 8-15 Short-run cost curves for E-Z Care lawn mowing company
In Exhibit 8-15, what market price would cause E-Z-Care to just break even?
A. $6 per lawn. B. $8 per lawn. C. $12 per lawn. D. $16 per lawn.
"Demand" is a statement of actual purchases.
Answer the following statement true (T) or false (F)
Under the Gold Standard,
A) exchange rates could float. B) real interest rates were fixed. C) real exchange rates were fixed. D) nominal interest rates were fixed. E) none of the above