A temporary limitation on capital flows may help stop a financial crisis that has begun
Indicate whether the statement is true or false
TRUE
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Aggregate demand policy, training programs, work requirements, tax credits, and family policies are mutually exclusive alternatives
Indicate whether the statement is true or false
We assume an upward sloping supply curve because:
A. the income effect tends to dominate labor-supply decisions in the real world. B. it makes better theoretical sense that the price effect would dominate. C. it makes better theoretical sense that the income effect would dominate. D. the price effect tends to dominate labor-supply decisions in the real world.
If, for the last bushel of apples produced and sold by an apple farm, marginal revenue exceeds marginal cost, then in producing that bushel the farm
A) added more to total cost than it added to total revenue. B) added an equal amount to both total revenue and total cost. C) added more to total revenue than it added to total cost. D) maximized its profits or minimized its losses.
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to the residents of Playa Del
Rey. No negotiations occur between the parties. The resulting level of air travel is A. 0 units. B. 100 units. C. 120 units. D. indeterminate from the given information.