Taxes on emissions have come to be called
A) the "command and control" approach.
B) "licenses to pollute."
C) spillover costs.
D) the fallacy of false alternatives.
B
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With a change in the money supply, a vertical LM curve shifts a horizontal distance equal to
A) that change. B) that change times velocity. C) that change divided by velocity. D) that change times the simple Keynesian multiplier.
A consumer's budget line will shift to the right in a parallel manner if:
a. the price of the good on the X-axis decreases. b. the price of the good on the Y-axis increases. c. the consumer's income increases d. the consumer's income decreases.
Refer to the above figure. Which panels represent long run equilibrium for the perfectly competitive firm and monopolistic competitive firm, respectively?
A. Panel C and Panel A B. Panel C and Panel D C. Panel C and Panel B D. Panel B and Panel C
"Comparative advantage" is defined as a situation in which one person can produce
A) more of all goods than another person. B) more of a good than another person. C) a good for a lower dollar cost than another person. D) a good for a lower opportunity cost than another person. E) all goods for lower opportunity costs than another person.