Suppose two neighborhoods (A and B) have identical housing, but neighborhood A has a strictly enforced deed restriction that prohibits homeowners from parking junk cars in the front yard
If houses in neighborhood A sell for $105,000 and houses in neighborhood B sell for $100,000, how would an economist value the external cost of visible junk cars, per house? A) $205,000
B) $105,000
C) $100,000
D) $5,000
E) None of the above answers is correct.
D
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In the graph shown below, assume policy changed overall environmental quality from E1to E2. Based on this information, the area or distance that represents an estimate of incremental benefits to achieve personal environmental quality of X2, according to the averting expenditure method (AEM), is
a. edfhX2 b. edhX2 c. dfh d. none of the above
The Board of Governors is made up of experts in:
A. banking. B. international trade. C. fiscal policy. D. All of these are true.
Marginal product of labor is:
a. the extra output produced by an additional worker, all else unchanged. b. the extra wage earned by an additional worker, all else unchanged. c. the total output produced when an extra worker is hired. d. the total revenue earned when an extra worker is hired.
The price paid by buyers in a market will decrease if the government
a. imposes a binding price floor in that market. b. increases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. decreases a binding price floor in that market.