The most threatening and damaging detrimental externality at issue today is:
a. The explosion and oil spill at the Deepwater Horizon
b. the continued pollution of city air due to factory emissions
c. water shortages
d. global warming
d
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Refer to Table 2-9. If the two countries specialize and trade, who should export rice?
A) They should both be exporting rice. B) There is no basis for trade between the two countries. C) Thailand D) Japan
When economists make
a. positive statements, they are speaking not as scientists but as policy advisers. b. positive statements, they are speaking not as scientists but as forecasters. c. normative statements, they are speaking not as scientists but as policy advisers. d. normative statements, they are speaking not as policy advisers but as model-builders.
As the price of an existing bond increases,
A. The current yield decreases. B. There is increased risk that the U.S. Treasury will default on the bond. C. The coupon rate decreases. D. The par value decreases.
According to monetarists, an increase in the money supply:
a) in the short-run will only increase prices. b) in the long-run will only increase prices. c) in the long-run can increase prices or output. d) in the long-run will only increase output.fv