When a highway is congested, giving rise to negative externalities, it is appropriate to view the highway as a common resource
a. True
b. False
Indicate whether the statement is true or false
True
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An open market sale of securities by the Fed
A) decreases banks' reserves and increases banks' securities. B) increases banks' reserves and decreases banks' securities. C) increases banks' total assets. D) involves a bank selling government securities to the Fed.
If the market price is $4 and a perfectly competitive firm is producing 500 units and the marginal cost to produce the 500th unit is $4, which of the following is true?
A) The firm is maximizing profit. B) The difference between marginal revenue and marginal cost (MR - MC) for the 500th unit is negative. C) The difference between marginal revenue and marginal cost (MR - MC) for the 500th unit is positive. D) The firm should increase production to maximize profit.
A monopolist sets the price by matching which of the following?
a. The profit maximizing quantity to the price on the demand curve b. The price to marginal revenue c. The price to the average total cost curve d. The price to the marginal cost curve
When 100 people who had previously stopped looking for jobs now decide to look for jobs, the
A. labor-force participation rate does not change. B. unemployment rate does not change. C. size of the labor force increases. D. unemployment rate decreases.