Most workers view leisure and income as:
A. goods and bads, respectively.
B. bads and goods, respectively.
C. bads.
D. goods.
Answer: D
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The above figure shows the market for fertilizer. When fertilizer is applied to lawns, it runs off into neighboring streams and ponds, killing fish and creating an external cost
a) What is the equilibrium price and quantity of fertilizer in an unregulated, competitive market? b) What is the efficient quantity of fertilizer? c) Suppose government imposes a tax equal to the marginal external cost. What is the equilibrium price paid by consumers and the equilibrium quantity after implementation of the tax? d) At the output level in part (c), how much is the tax? e) How much tax revenue does government collect? f) What is the deadweight loss borne by society if the externality is left uncorrected?
The costs of inflation have been most apparent in the post-war period in countries like
A) Argentina. B) Belgium. C) the United States. D) Canada. E) Japan.
A conglomerate merger is a combination of
a. firms that formerly competed with each other. b. firms that formerly bought from and sold to each other. c. firms that produce nearly identical products, but are based in different countries. d. firms that produce unrelated products or services.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.