Gross domestic product accurately measures the environmental costs of producing all goods and services.
Answer the following statement true (T) or false (F)
False
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Refer to Table 2-1. Dina faces ________ opportunity costs in the production of sliders and hot wings
A) decreasing B) increasing C) constant D) negative
An increase in ________ reduces the money supply since it causes the ________ to fall
A) reserve requirements; monetary base B) reserve requirements; money multiplier C) margin requirements; monetary base D) margin requirements; money multiplier
The main disagreement among economists about the Laffer curve is about whether
A. increases in taxes will decrease GDP. B. the effect of tax decreases on GDP will be so big as to raise government revenues when taxes are cut. C. cutting marginal tax rates will increase the incentive to work. D. the government will collect maximum tax revenue at a 50% tax rate.
Which of the following is an example of a positive externality? ?
A. ? A firm emits pollution into the air, harming members of society. B. ?An auto body shop makes a lot of noise, reducing the property values of nearby homes. C. ?A coastal dairy farmer's undeveloped land offers unimpeded views of the ocean for a nearby neighborhood. D. ?You go to a store and pay $0.65 for a candy bar that you then eat.