Who was the economist who first proposed that governments use taxes and subsidies to correct for externalities?
A) Ronald Coase B) Adam Smith C) A. C. Pigou D) David Hume
C
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When a national security crisis forces the government to draft workers, this often results in price increases because the supply curves of most goods shift to the left. The people who suffer the price-increase consequences mostly are
a. those who are drafted b. farm goods suppliers because they have less to supply c. consumers of farm goods because farm goods are basic goods d. the rich because they can afford to pay the higher prices, but they pay substantially more e. the poor because they are priced out of the markets
A nation is called a creditor if
A. it provided financial assets to other countries. B. its net stock of foreign assets is positive. C. its current account is in deficit during a time period. D. its current account is balanced during a time period.
For the monopolist, marginal revenue is
A) equal to price. B) less than average revenue since price must be lowered to sell additional units. C) greater than price. D) not a consideration in the firm's pricing.
Securities dealers reduce the uncertainty associated with mortgage debt cash flows through the development of
A) convertible mortgages. B) callable mortgages. C) collateralized mortgage obligations. D) tax-exempt commercial paper.