Which of the following is not among the first steps the textbook recommends be taken to reduce negative externalities?

Refer to Figure 4-10. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What area represents the deadweight loss after the imposition of the price floor?

A) J + H B) C + E + J + H C) C + E D) G + H

As the velocity of money rises, the amount of money being held by individuals also rises

a. True b. False Indicate whether the statement is true or false

If the supply curve is perfectly elastic, then an increase in demand will: a. increase both the price and the quantity exchanged

b. increase the price but result in no change in the quantity exchanged. c. increase the quantity exchanged but result in no change in the price. d. decrease the price but not change the quantity exchanged.

The table below shows the units of land and labor required to produce a unit of bread and cheese respectively in Country X. If Country X is land-abundant, the opening up of free trade would result in  1 Unit of Bread1 Unit of CheeseLabor Input5 units20 unitsLand Input4 units10 units 

A. a decline in the production of bread but an increase in the production of cheese in the country. B. an increase in the production of both bread and cheese in the country, but production of cheese will rise at a lesser pace than the production of bread. C. a decline in the production of both bread and cheese in the country. D. an increase in the production of bread but a decline in the production of cheese in the country.