Which of the following pieces of legislation is aimed at curbing the negative effects of externalities?
A. Robinson-Patman Act
B. Clean Air Act
C. Truth in Lending Simplification Act
D. Lanham Act
Answer: B
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Bonds that are rated in the D category are of higher quality than bonds that are rated in the A category
Indicate whether the statement is true or false
For farmers as a group, increased productivity can lead to lower incomes
Indicate whether the statement is true or false
Efficiency is achieved
A. when consumers are able to buy everything that they want. B. when producers are getting the maximum possible output from the available resources. C. when prices of all goods and services go to zero. D. when output is being produced at a point inside a production possibilities curve.
The smaller is the absolute price elasticity of demand, the
A. larger is the responsiveness to a price change. B. larger is the income of the buyer. C. higher is the change in demand to an income change. D. smaller is the responsiveness of quantity demanded to the price change.