When the government imposes a tax equal to the external cost of producing a product that causes pollution, the government is said to externalize the externality
Indicate whether the statement is true or false
FALSE
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Since the 1950s,
A) U.S. business cycle fluctuations have becomes more volatile. B) U.S. business cycle fluctuations have not changed. C) U.S. business cycle fluctuations have become milder. D) the United States has not experienced a business cycle.
The opportunity cost of your college education is:
a. c and d. b. d and e. c. the actual dollar cost of your college education. d. your best alternative use of the money you spend for a college education. e. money you could have earned working instead of going to college.
Refer to Figure 23.6 for a perfectly competitive firm. If this firm produces the level of output corresponding to point B in the short run, it will earn
A. A loss greater than necessary. B. The minimum loss possible. C. The maximum profit possible. D. A profit, although not the maximum profit possible.
It is possible that an increase in wages will lead to a decrease in the quantity of labor supplied.
Answer the following statement true (T) or false (F)