If the punishment is _________, or the likelihood of getting caught is _________, the cost associated with breaking a ban may not be high enough to change the trade-off that consumers face.
A. not severe; low
B. severe; high
C. severe; low
D. not severe; high
A. not severe; low
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In terms of location decisions, firms evaluate the extent to which the labor force is unionized
Indicate whether the statement is true or false
Which of the following is an example of a positive externality?
a. A local community planting 10,000 trees for green space renewal projects b. A gold mine discharging arsenic into a natural lake c. Excessive clear cutting of wood resources by logging companies d. Increased levels of air pollution in neighborhoods near a football stadium
Draw a graph showing the trade-off between salary and benefits. Show an employee's indifference and a firm's isocost curve. Label the equilibrium salary/benefits combination. Discuss what would happen as individual taxes fall or as firm payroll taxes rise.
What will be an ideal response?
The change in total planned real expenditures resulting from a change in the real value of money balances when the price level changes, all other things held constant, is
A. the real-balance effect. B. the open economy effect. C. demand side inflation. D. the interest rate effect.