If a firm’s activities generate detrimental externalities, the marginal social cost will be less than the marginal private cost.

Answer the following statement true (T) or false (F)


False

Economics

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If the MPC in an economy is 0.75, government could shift the aggregate demand curve leftward by $60 billion by

A. reducing government purchases by $60 billion. B. reducing government purchases by $12 billion. C. increasing taxes by $15 billion. D. increasing taxes by $20 billion.

Economics

What is export promotion? Give a few examples of countries that have tried it

What will be an ideal response?

Economics

When two goods are substitutes for each other, the cross price elasticity of demand

A) will be negative. B) will be zero. C) may be either positive or negative. D) will be positive.

Economics

Insurance works best in situations where there is

a. a high probability of a small loss. b. a low probability of a small loss. c. a high probability of a large loss. d. a low probability of a large loss. e. the level of probability and the size of the loss are irrelevant.

Economics