All externalities are detrimental.
Answer the following statement true (T) or false (F)
False
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Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in producer surplus is
A) 25. B) 5. C) 12.5. D) 20.
The reason we study the sequential labor negotiation game:
a. Is to show that these games usually go on for rounds and rounds b. Is to show the importance of the first mover being able to commit to an offer c. Is to show the importance of the second mover being able to commit to an offer d. Is to show the problems of prisoners dilemmas
The three problems of resource allocation are faced by
a. traditional societies b. command systems c. centrally planned economies d. market economies e. all types of societies
If there was only full-reserve banking:
A. the financial system would work better. B. absolutely no lending using deposits would be able to occur. C. The money multiplier would be at maximum. D. banks would make more money lending deposits.