When correcting for an externality, command-and-control policies are always preferable to market-based policies
a. True
b. False
Indicate whether the statement is true or false
False
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If the market price is $5 and you are currently producing at a level where average total cost is $3 and falling, you should
a. b or c, it doesn't matter b. shut down c. produce only enough to cover variable costs d. produce where MR = MC e. produce until the average total cost and average revenue are equal
If an economy wants to increase its current level of investment, it must
A. sacrifice future consumption. B. print more money. C. offer more stocks and bonds to financial investors. D. sacrifice current consumption.
Describe the three purposes that money must perform.
What will be an ideal response?
The national debt is the difference between current government expenditures and taxes.
a. true b. false