Sale of a popular energy drink called 7D was banned in Bonland after a study revealed that one of its ingredients increases the risk of cancer. This legislation is an example of ________
A) paternalism
B) consumer sovereignty
C) indirect regulation
D) internalization of externalities
A
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A recessionary real shock will:
a. shift the aggregate demand curve to the left and reduce real GDP. b. shift the aggregate demand curve to the right and increase real GDP. c. shift the aggregate supply curve to the left and increase real GDP. d. shift the aggregate supply curve to the left and reduce real GDP. e. shift the aggregate supply curve to the right and increase real GDP.
In economics, scarcity implies
A) disutility. B) utility. C) choice. D) inefficiency. E) a, c, and d
For the Fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat 100 meals, your marginal cost of the 100th meal is:
A. $6. B. $0. C. $4. D. $0.25.
When total product is increasing at an increasing rate, marginal product is:
A. positive and increasing. B. positive and decreasing. C. constant. D. negative.