Bicycle helmet laws are designed to reduce the severity of injuries resulting from bicycle involvement in traffic accidents. In this sense, the helmet laws are reducing ________ of risky behavior
A) positive externalities
B) negative externalities
C) transactions costs
D) the efficiency
B
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According to the circular flow of income and output, which of the following is not true?
A. Total income and total output must be equal. B. Goods and services flow in one direction and money payments flow in the other direction. C. In every economic? transaction, the seller receives exactly the same amount that the buyer spends. D. ?Goods, services and money all flow in one direction since money pays for the goods and services.
In any efficiency wage model, it must be true that
a. the marginal benefit of increased efficiency is equal to the marginal cost of higher wages. b. nominal wages are inflexible. c. disequilibrium in the labor market exists. d. all of the above. e. none of the above.
In general, the accounting of trade in goods and capital is known as the:
A. balance of trade. B. net capital outflow. C. balance of payments. D. trade surplus.
If a Japanese company sells 200 VCRs to a French company and uses the money to buy U.S. government bonds, the Japanese trade balance ________, and the Japanese financial account balance ________.
A. rises; rises B. falls; falls C. falls; rises D. rises; falls