Pollution is an example of a
A. positive externality.
B. neutral externality.
C. negative externality.
D. golden externality.
Answer: C
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Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes
If Angus continues to play the bagpipes and Dudley calls the police, the payoffs in the appropriate cell in the payoff matrix would change to A) N/A. B) 550, 100. C) 100, 550. D) The payoffs would not change.
Exemptions are better off for the taxpayer than deductions _____
a. only in the case of housing-related tax preferences b. when itemizing deductions c. when taking the standard deduction d. for high-income taxpayers
Which of the following examples is elastic but not perfectly elastic?
a. When milk is discounted by 10 percent, sales increase by 20 percent. b. When corn is discounted by 2 percent, sales increase by 100 percent. c. When HD televisions are discounted by 3 percent, sales increase by 200 percent. d. When motorcycles are discounted by 5 percent, sales increase by 500 percent.
Most economists believe that the source of European high unemployment in the past two decades is
A) labor market institutions. B) tight monetary policy. C) tight fiscal policy. D) financial crisis.