Attaining higher and higher levels of air cleanliness causes
A) additional costs to rise to increasingly high levels.
B) larger and larger increases in per capita incomes.
C) additional costs to fall to lower and lower levels.
D) larger and larger marginal benefits to society.
Ans: A) additional costs to rise to increasingly high levels.
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According to the theory of the invisible hand, if buyers and sellers are free to pursue their own self-interest, the result often will be:
A. an efficient allocation of resources. B. an equitable allocation of resources. C. the exploitation of productive resources. D. an incomplete allocation of resources.
If the reserve ratio is 10%, and banks do not hold excess reserves, when the Fed purchases $10 million of government bonds, bank reserves
A) increase by $10 million and the money supply could eventually increase by $10 million. B) decrease by $10 million and the money supply could eventually decrease by $100 million. C) increase by $10 million and the money supply could eventually increase by $100 million. D) decrease by $10 million and the money supply could eventually decrease by $10 million
Automatic stabilizers "lean against the prevailing wind" of the business cycle because:
A. wages are controlled by the minimum wage law. B. federal expenditures and tax revenues change as the level of real GDP changes. C. the spending and tax multipliers are constant. D. they include the power of special interests.
Requirements tie-in-sale is
a. Where customers have to purchase all their products from one store in variable proportions b. Where customer can mix and match products from different stores c. Where two or more products are sold together in fixed proportions d. Where you get discounts for buying in large quantities