Who believes that marginal analysis provides the best model of a firm's behavior?
a. William Baumol
b. John K. Galbraith
c. Milton Friedman
d. Richard Lester
e. Lester Thurow
C
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A paint firm has just announced that it will be building a new plant in a small town that is currently experiencing a high level of unemployment. The new plant will create 500 new jobs in the area and will occupy unused land at the edge of town
The plant will also dump some harmful chemicals into the town's river. From an economic standpoint this dumping of chemicals A) is unimportant since the firm is reducing the unemployment in the region. B) creates a negative externality. C) is the production of a public good. D) creates a positive externality.
Monopolies can misallocate resources by restricting output in an attempt to raise prices and profits
a. True b. False Indicate whether the statement is true or false
This curve shows there is a(n) ______ relationship between the quantity of real GDP demanded and the overall price level.
a. inverse
b. neutral
c. positive
d. indeterminate
Unemployment insurance:
A. has a set minimum in the United States, with some states being more generous. B. is offered in all countries. C. varies widely across countries. D. is most generous in the United States.