A negative externality is the same thing as an external cost
Indicate whether the statement is true or false
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The greater the substitutability between Northwest timber and Southeast timber, the ________ is the cross elasticity of demand between timber from the two regions and the ________ is the elasticity of demand for Northwest timber
A) smaller; smaller B) smaller; larger C) larger; smaller D) larger; larger
Everything else held constant, aggregate demand increases when
A) taxes are cut. B) government spending is reduced. C) animal spirits decrease. D) the money supply is reduced.
Games with a finite number of strategies do not always have a Nash equilibrium
Indicate whether the statement is true or false
To achieve its target when the federal funds rate is below the Fed's target range, the Fed should:
A. do nothing. B. follow expansionary policy. C. follow contractionary policy. D. print money.