Explain the difference between a positive production externality and a positive consumption externality
What will be an ideal response?
A positive production externality occurs when a firm produces a good and that production provides benefits to parties other than the firm. A positive consumption externality occurs when a person consumes a good and that consumption provides benefits to others who did not consume the good.
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Cost-push inflation starts with
A) an increase in potential GDP. B) a decrease in aggregate demand. C) a decrease in aggregate supply. D) an increase in aggregate supply. E) an increase in aggregate demand.
In the late 1800s, the Goodyear welt process vastly increased productivity in the ______ industry
a. steel b. boot and shoe c. tire d. cotton textiles
An example of a good that can be used for money that has intrinsic value is:
A. fish. B. cigarettes. C. gold. D. All of these have intrinsic value.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C