If there is an increase in the percentage of employees whose wages adjust automatically with changes in the price level, the aggregate supply curve will become
A. vertical.
B. steeper.
C. flatter.
D. horizontal.
Answer: B
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Because producers do not bear the external cost of pollution,
A) private production exceeds the economically efficient level. B) the economically efficient level of production is achieved. C) private production is below the economically efficient level. D) the market price for the product being produced by the pollution-generating company is too high.
Which of the following gives pollution-emitting firms an incentive to reduce the damage they do to the environment?
a. Negative externalities b. Positive externalities c. Commands and controls d. Pollution charges
Plato and Aristotle both believed that an uneven distribution of income
a. is desirable since it encourages people to work b. creates natural class distinctions c. results in higher rates of economic growth d. leads to political discontent e. is acceptable as long as no one ends up in poverty
"Beaten paths" from one country to another:
A. discourage migration to that country because of a perception that all of the good jobs have already been taken. B. discourage migration by increasing the cost of moving. C. encourage migration by providing employment contacts and job information. D. are more prevalent the greater the distance between the two countries.