When a tax on output is imposed to internalize the external costs of pollution, the supply curve shifts down by the amount of the tax
Indicate whether the statement is true or false
FALSE
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The production possibilities frontier is
A) upward sloping and reflects unlimited choices. B) upward sloping and reflects tradeoffs in choices. C) downward sloping and reflects unlimited choices. D) downward sloping and reflects tradeoffs in choices.
A decrease in the price level will shift the money demand curve to the ________, causing the nominal interest rate to ________
A) right; increase B) right; decrease C) left; increase D) left; decrease
State enforcement of OSHA requirements appears to have been more effective than federal enforcement
Indicate whether the statement is true or false
Which of the following is most critical for the maintenance of an efficient and productive economy?
a. Money backed by gold or silver b. Steadily rising prices c. An unlimited and unregulated supply of money d. A properly functioning monetary system e. A well-organized barter system