A negative externality
A) occurs under any undesirable event.
B) occurs when an action doesn't take into account the costs it imposes on others.
C) can be a natural phenomenon, such as being struck dead by a bolt of lightening.
D) cannot occur at the same time as a positive externality.
B
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If the law of demand holds, then
A. the demand curve has a negative slope. B. the demand curve has a positive slope. C. the demand curve shifts whenever the price changes. D. the diminishing marginal utility is not valid.
If the government requires banks to keep 100 percent of their deposits on reserve, a $1,000 deposit in a checking account would lead to a $100,000 increase in the money supply
a. True b. False Indicate whether the statement is true or false
The marginal rate of substitution represents the maximum amount of one commodity a consumer is willing to give up in exchange for one more unit of another commodity
a. True b. False Indicate whether the statement is true or false
One of the consequences of an agricultural price support program is
A) a surplus. B) more exchanges made at the price support. C) lower prices paid by consumers. D) lower taxes for taxpayers. E) a and c