Which of the following is an exogenous variable in our model of the goods market in Chapter 3?
A) consumption (C)
B) saving (S)
C) disposable income (YD)
D) government spending (G)
E) none of the above
D
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Which of the following is not an obstacle to achieving environmental efficiency through markets?
a. Transactions costs. b. Income effects. c. Free-rider problems. d. Private negotiations.
According to the second monetarist proposition, which of the following factors do not determine the level of real output in the long run?
a. The stock of capital goods b. The size of the labor force c. The quality of the labor force d. The state of technology e. The quantity of money
A public good is
a. always depletable and excludable. b. always depletable and often excludable. c. never depletable and always excludable. d. never depletable and always nonexcludable.
The sum of consumer surplus and producer surplus is equal to
A) the deadweight loss. B) the economic surplus. C) zero. D) total profit.