In the market for fossil-fuel-based electric power,
a. the MEC is horizontal
b. the competitive equilibrium is efficient
c. the MSC is exactly equal to the MPC
d. none of the above
d. none of the above
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To implement an efficient Pigouvian tax in a competitive market that has negative production externalities, the government would need to know the shape of the entire social marginal cost curve.
Answer the following statement true (T) or false (F)
All of the following except ____ are shortcomings of cost-benefit analysis
a. difficulty in measuring third-party costs b. difficulty in measuring third-party benefits c. failure to consider the time value of benefits and costs d. difficulty of accounting for program interactions e. a and b
Property rights allowing individuals to own goods, services, and factors of production are most important in:
a. socialistic economies. b. planned economies. c. capitalistic economies. d. command economies.
Which of the following would not be considered money in the hands of the public?
a. cash hidden under a mattress b. a bank's vault cash c. cash in the cash register of a hardware store d. cash stored in the hardware store's vault e. cash in your wallet