Unlike command-and-control regulation, corrective taxes generate revenue for governments
a. True
b. False
Indicate whether the statement is true or false
True
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Under the gold standard, a country that is experiencing a gold outflow
a. has a balance of payments deficit. b. has a shrinking money supply. c. is experiencing a fall in output. d. All of these.
A sewer system is
a. rival and exclusive, and therefore is a public good b. nonrival and nonexclusive, and therefore is a public good c. exclusive, but since it is nonrival, it is a public good d. nonrival, but since it is exclusive, it is a private good e. nonrival and nonexclusive, and therefore is a private good
A monopsonistic employer's marginal resource (labor) cost curve:
A. is always more elastic than the labor supply curve. B. coincides with the labor supply curve. C. lies below the labor supply curve because the higher wage paid to an additional worker must also be paid to all other employed workers. D. lies above the labor supply curve because the higher wage paid to an additional worker must also be paid to all other employed workers.
Refer to the information provided in Table 24.4 below to answer the question(s) that follow.
Table 24.4
Refer to Table 24.4. At an output level of $2,500, there is an unplanned inventory
A. change of $0. B. decrease of $400 billion. C. increase of $600 billion. D. increase of $400 billion.