Different public goods can have different sized sharing groups, so efficiency would dictate _____
a. that only one national government is necessary
b. that public goods be provided by the federal government and the states deal with externalities
c. one world government for most pure public goods
d. different public goods supplied at different levels of government
d
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The market pricing system corrects an excess supply by
a. raising the product price and increasing producer profits. b. lowering the product price and decreasing producer profits. c. raising the product price and decreasing producer profits. d. lowering the product price and increasing producer profits.
Kelly puts money in a savings account. One year later she has two percent more dollars and can buy three percent more goods. Kelly earned a real interest rate of
a. two percent and prices fell one percent. b. two percent and prices rose one percent. c. three percent and prices rose one percent. d. three percent and prices fell one percent.
The supply and demand for saving are brought into equilibrium by adjustments of the ________ rate.
A. nominal interest B. discount C. real interest D. dividend
Answer the following statement(s) true (T) or false (F)
1. Incremental costs are the accumulated expenditures associated with an environmental policy initiative. 2. When implementing environmental policy, all expenses paid by the government plus compliance costs paid by all economic sectors are known as explicit costs. 3. Fixed costs are controllable in the short run but not the long run. 4. The accounting equivalent of variable costs is capital costs. 5. The value of reduced product variety due to an environmental policy initiative or regulation is an example of an implicit cost.