Low Bar Steel factory produces runoff that affects the water supply in one way or another for more than 100,000 households and businesses. Why would it be impractical for the Coase theorem to apply to a workable solution in this case?
a. Potential benefits outweigh the costs.
b. There is no externality.
c. There are too many transactors.
d. Property rights are clearly defined.
c. There are too many transactors.
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Which of the following statements is true?
A) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a command economy which decelerated their economic growth. B) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a market economy which accelerated their economic growth. C) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a command economy which accelerated their economic growth. D) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a market economy which decelerated their economic growth.
Refer to the table above. If Tom has a taxable income of $62,000, he faces a marginal tax rate of ________
A) 10% B) 15% C) 20% D) 30%
Marginal returns start to decrease when more and more workers _______
A. have to share the same equipment and workspace B. produce less and less output C. require jobs to be too specialized D. produce less and less average product
On the graph above, consider a point A on the aggregate supply curve and above the aggregate demand curve. At this point, ________
A) quantity demanded equals output, but the inflation rate will fall, so output will rise B) quantity demanded is greater than quantity supplied, so the inflation rate will rise C) output is greater than the quantity demanded, so output will fall D) the aggregate demand curve will shift to the right until quantity demanded is equal to quantity supplied E) none of the above