When productivity growth has been rapid and then slows, the natural rate of unemployment is likely to ________
A) decrease
B) be unaffected
C) increase
D) vary unpredictably
C
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Over the next few years more and more people prefer to ride on scooters. Which of the figures above best illustrates how this change affects the demand curve for scooters?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the above answers is correct because the change in tastes will affect the supply curve not the demand curve.
Assume that air pollution from a copper smelter imposes external costs on people who live near the smelter. If the victims of the pollution could not legally enforce the right of their property not to be damaged, the amount of pollution reduction
A) would be significantly less than if the owners of the smelter were legally liable for damages. B) would be less than the amount at which the marginal benefit of pollution reduction equaled the marginal cost. C) would be too small; the government would have to intervene to bring about an efficient outcome. D) would be the same as if it would be if the owners of the smelter were legally liable.
In 2015, the total income of all U.S. residents was approximately $16 billion
a. True b. False Indicate whether the statement is true or false
An increase in output would result in a rise in long-run average costs when there are
A. the law of diminishing marginal product. B. diseconomies to scale. C. constant returns to scale. D. economies of scale.