Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to
a. shift rightward.
b. shift leftward.
c. become flatter.
d. remain unchanged.
b
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Which of the following does Dwight Lee suggest as a solution to correct excessive pollution?
a. Reduce the use of petroleum-based fuels b. Place a tax on all large trucks and SUVs. c. Expand markets & property rights into areas where externalities (i.e., pollution) exist d. This is a market failure, these is no clear solution
Use the above table. At an income of $50
A) real saving is $10. B) real saving is $20. C) real dissaving is $10. D) real dissaving is $50.
Today, you might be buying from a regulated natural monopoly when you purchase
A) a car, a truck, or a bicycle. B) a computer, a phone, or a camera. C) natural gas or electricity. D) a house, a condominium, or a plot of land. E) food in a grocery store or in a restaurant.
The concept of holding reserves, such as gold, that are less than the value of the total deposits
A) is known as fractional reserve banking. B) has been illegal since the passage of the Financial Services Modernization Act of 1999. C) is known as non-credit banking. D) None of the above are correct.