In the middle of a severe recession, Congress passes an increase in the level of unemployment benefits. This would be considered by economists as a
a. positive tax.
b. negative tax.
c. form of government purchases.
d. variable tax.
b
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Which of the following would generate positive externalities?
a. Flu vaccinations. b. Farmers' use of pesticides. c. Cigarette smoking in elevators. d. Litter left at the beach. e. An unkept front yard.
Which of the following was a cause of the savings and loan crisis that occurred in the 1980s?
a. the increasing rates of inflation throughout the 1970s b. savings and loans investing in high-risk ventures including real estate projects c. government deregulation in the 1980s d. all of the above
There is now general agreement among economists regarding the sources of the U.S. productivity slowdown that occurred between 1973 and 1995
a. True b. False Indicate whether the statement is true or false
Total revenue for a perfectly competitive firm producing six units of output is $48. Total revenue for producing eight units of output is $64. Given this information, the:
A. average revenue for producing eight units is $16. B. marginal revenue for producing the eighth unit is $16. C. firm should raise its price. D. marginal revenue for producing the eighth unit is $8.