The British economist A. C. Pigou
a. wrote The Economics of Welfare in 1911.
b. offered an explanation of the market economy's poor environmental performance.
c. outlined an approach to environmental policy still in favor with economists today.
d. All of the above are correct.
d
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Which of the following is true of fiat money?
A) Fiat money is illegal and difficult to counterfeit. B) The raw materials required for the production of fiat money are available only in a few countries. C) Fiat money is not backed by a physical commodity. D) The technology required to produce fiat money is not widely available.
Coca Cola and Pepsi, which together account for about 85 percent of the soft drink market, are best described as being in
A) a monopoly market. B) an oligopolistic market. C) a perfectly competitive market. D) a monopolistically competitive market.
Excess reserves are borrowed funds loaned in excess of legal reserve requirements
Indicate whether the statement is true or false
The reason for the multiplier effect is that
A. businesses make decisions about investment projects based on anticipated profits. B. one person’s additional expenditure creates a new source of income for another person, and this additional income leads to still more spending. C. changes in government spending typically deepen recessions and exacerbate inflationary conditions in the economy. D. additional spending lowers the rate of interest and leads to further borrowing and spending.