In a market where negative externalities are associated with consumption and production, the equilibrium will not be efficient because:
A. Too few resources will be allocated towards producing the good
B. Firms will shut down until costs are reduced
C. Costs of production will, on average, be too high
D. Too many resources will be allocated towards producing the good
D. Too many resources will be allocated towards producing the good
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According to the United Nations, the largest expected growth in population for the coming decades will occur on which continent?
A) South America B) Africa C) Europe D) North America
Critics of advertising argue that it:
a. lowers price by increasing competition. b. results in more variety of products. c. establishes brand loyalty, which promotes competition. d. serves as a barrier to entry for new firms.
"Hot money" is
a. funds that can be moved from one type of investment to another on very short notice. b. money that is stolen and used to buy financial instruments. c. money that is used by a central bank when a currency is appreciating, or becoming "hot.". d. funds that are being saved by a financial institution for good or "hot" times. e. money earned from very high-risk investments in less developed countries.
As output rises, AFC gets ________________.
Fill in the blank(s) with the appropriate word(s).