If consumers were able to receive the full social benefits associated with the consumption of goods involving positive externalities, other things being equal, there would probably be:
a. an increase in consumption
b. a decrease in consumption.
c. a greater misallocation of resources.
d. a decrease in the market price of the product.
a
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In order to change the money supply, the Fed might use which of the following tools?
A. Dual mandate B. Reserve requirement C. Fiscal policy D. Deficit spending
The Bear Corporation finds that its total spending on machine parts increases after the price of machine parts falls, other things being equal. Which of the following is true about the Bear Corporation's demand for machine parts with the price change?
A. It is unit elastic B. It is price elastic C. It is price inelastic D. It is perfectly inelastic
Is the number of sellers in the market the only thing that is different in each of the four market types economists study?
What will be an ideal response?
Over the last 50 years or so, the rate of growth of average working hours has been mostly negative
a. True b. False