When government intervenes in the production process because external costs exist, it typically attempts to shift the industry's
A) demand curve to the right.
B) demand curve to the left.
C) supply curve to the right.
D) supply curve to the left.
D
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What impact does an increase in the price level in the United States have on net exports and why?
A) An increase in the price level decreases net exports by increasing the relative cost of American goods. B) An increase in the price level increases net exports because higher prices decrease American spending on imports. C) An increase in the price level decreases net exports because higher prices decrease the value of the dollar. D) An increase in the price level increases net exports because higher prices lower the value of the dollar.
In the U.S. economy, foreigners participate in:
A.) The factor market only. B.) The product market only. C.) Both the product and factor markets. D.) Foreigners do not participate in the U.S. economy.
The economic principle that "unemployment rate will tend to increase as the economy moves into a recession" is an example of:
A. A normative statement B. An assumption C. A loaded terminology D. A generalization
The unemployment rate includes
A. people who have given up looking for work. B. people who are not employed but actively seeking work. C. people who are not working in order to stay at home with children. D. people not working because they are in school.