All of the following are examples of goods for which external costs commonly exist EXCEPT
A) cigarettes.
B) automobiles.
C) vaccinations.
D) oil transportation.
Answer: C
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Based on the figure above, the aggregate supply curve shifts rightward and the potential GDP line does not change when
A) the money wage rate rises. B) the price level rises. C) the money wage rate falls. D) the price level falls. E) both the price level and money wage rate rise by the same proportion.
There are no idle resources, the multiplier is operative, and autonomous spending rises. It follows that
A) Real GDP will not increase. B) Real GDP will rise. C) prices will rise. D) a and c E) a, b, and c
Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00.Number ofworkersCoffee(cups/hour)00125245360470575 The marginal product of the third worker is ________ than the marginal product of the second worker, implying that ________.
A. greater; diminishing returns are absent B. neither greater nor less; the third worker will be hired C. less; the third worker will never be hired D. less; diminishing returns are present
Statistical discrimination:
A. is malicious. B. is profitable but not malicious. C. cannot persist because of competition. D. explains all occupational discrimination.