A voucher can eliminate the deadweight loss and lead to an efficient outcome if the value of the voucher equals the ________ of the good
A) marginal external benefit
B) marginal social benefit
C) marginal private benefit
D) marginal social cost
A
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The demand for labor curve shows the relationship between _________
A. the quantity of labor employed and firms' profits B. all households' willingness to work and the real wage rate C. the quantity of labor businesses are willing to hire and the real wage rate D. the labor force and the real wage rate
Does inherited wealth make the distribution of income less equal or more equal?
What will be an ideal response?
The short-run effect of an increase in the money supply is to
A) increase real GDP only. B) increase the price level only. C) increase both real GDP and the price level. D) increase nominal GDP but decrease the price level.
In a price-leadership oligopoly, it is much simpler for the price leader to identify its dominant strategy when
a. at least one price follower has a terminal strategy b. it expects competition from the other firms c. it expects other firms to match its prices d. the government actively seeks antitrust penalties e. price equals marginal cost