Loud music from a neighbor's party is
A) a negative externality whether or not you like it.
B) a positive externality whether or not you like it.
C) a positive externality if you like the music, and a negative externality if you don't.
D) a negative externality if you like the music, and a positive externality if you don't.
E) not an externality.
C
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An increase in the price level real wealth, which causes consumption to
A) raises; decrease B) lowers; increase C) lowers; decrease D) raises; increase
The part of a commercial bank's reserves that are larger than desired are called
A) additional reserves. B) required reserves. C) excess reserves. D) nonrequired reserves. E) unnecessary reserves.
Voluntary programs, direct controls, and emissions taxes are all equally effective ways of controlling pollution.
Answer the following statement true (T) or false (F)
Authorization to start a business issued by the local government:
a. license b. dividend c. liability d. stock e. bill of attainer