According to economic analysis, the optimal level of pollution is
A) always zero.
B) at the point at which the marginal benefits of pollution control exceed the marginal cost.
C) at the point at which the marginal benefits of pollution control are less than the marginal cost.
D) at the point at which the marginal benefits from pollution control are equal to the marginal cost.
D
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The money multiplier is used to determine how much the
A) quantity of money increases when the monetary base increases. B) monetary base increases when the quantity of money increases. C) monetary base increases when the Fed purchases government securities. D) monetary base increases when the Fed sells government securities. E) quantity of money increases when the required reserve ratio increases.
A monopoly is characterized by all of the following except
A) the firm has market power. B) there are no close substitutes to the firm's product. C) there are only a few sellers, each selling a unique product. D) entry barriers are high.
As a store of value, money
A) does not earn interest. B) cannot be a durable asset. C) must be currency. D) is a way of saving for future purchases.
If input prices adjusted just as quickly as output prices, the profit effect leading to an increase in RGDP supplied would disappear
a. True b. False Indicate whether the statement is true or false