By providing free garbage removal, a community
a. discourages activities that produce detrimental externalities.
b. encourages citizens to recycle items rather than throw them out.
c. leads citizens to throw out more garbage than is socially optimal.
d. None of the above is correct.
c
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A natural monopoly occurs when
A) one firm owns all the vital resources needed to produce a particular good. B) economies of scale allow one firm to supply the entire market at the lowest possible cost. C) a few firms collude to act as a single firm. D) one firm captures all the consumer surplus.
In the Solow growth model, given the values of A, s, n, and d, the economy has an equilibrium growth rate of real GDP per capita, (Y/N), equal to
A) n. B) n - d. C) s - n. D) (s - d)/n. E) zero.
For all employee earnings subject to Social Security taxes, what is the current Social Security tax rate for employers?
A) 0.8% B) 2.9% C) 4.2% D) 6.2%
Figure 29-1
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In Figure 29-1, which panel shows the effect of an expansionary monetary policy on the interest rate?
A. Panel (A) B. Panel (B) C. Panel (C) D. Panel (D)