Which of the following is an example of a negative externality?
A. Government funding of public education.
B. An increase in government bureaucracy and red tape.
C. An increase in the incidence of cancer due to pollution.
D. A factory introduces a production process that reduces pollution.
Answer: C. An increase in the incidence of cancer due to pollution.
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The total tariff revenue to the government of an imported good is found by adding the tariff to the quantity of the good imported
a. True b. False Indicate whether the statement is true or false
Unpredictable inflation can cause businesses to:
A. increase production due to expecting future price level changes. B. restrict output and stockpile inventory. C. have a hard time planning future production. D. cease production until they know how to adjust for inflation.
Public employees (more frequently than private employees) tend to have their retirements in
A. defined contribution programs. B. Ponzi schemes. C. defined benefit pension programs. D. private savings plans.
The belief that wages are "sticky downwards" was held by:
A. Keynes, but not the classical macroeconomic theorists. B. neither Keynes nor the classical macroeconomic theorists. C. the classical macroeconomic theorists, but not Keynes. D. both Keynes and the classical macroeconomic theorists.