Another term for negative externalities is
A) bad vibrations.
B) non-marginal costs.
C) spillover costs.
D) sunk costs.
E) surplus product.
C
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At macroeconomic equilibrium, total ________ equals total ________
A) consumption; production B) taxes; transfers C) investment; inventories D) spending; production
"When a person has an absolute advantage in producing a good, the person necessarily has a lower opportunity cost of producing it." Is this assertion true or false?
What will be an ideal response?
Aluminum cannot be produced without bauxite. Hence, the price elasticity of demand for bauxite by aluminum manufacturers will be
A) perfectly elastic. B) elastic. C) inelastic. D) unitary elastic.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and GDP Price Index falls. b. The quantity of real loanable funds per time period falls, and GDP Price Index remains the same. c. There is not enough information to determine what happens to these two macroeconomic variables. d. The quantity of real loanable funds per time period falls, and GDP Price Index rises. e. The quantity of real loanable funds per time period falls, and GDP Price Index falls.