Over the last two decades, trade worldwide has fallen (as a share of global output) because many countries have discovered that trade produces too many job losses.
Answer the following statement true (T) or false (F)
False
Global trade has increased as a share of global output, and it does not create net job losses worldwide.
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In terms of cost-benefit analysis, explain why a competitive market with an externality produces too much pollution
What will be an ideal response?
One problem with the effectiveness of Pigovian taxes is:
A. the tax does not directly compensate those who are affected by the externality. B. knowing whether to impose it on the consumer or producer. C. the tax is always used to benefit those who bear the externalities. D. none of the above is a problem of Pigovian taxes.
Costs that vary with each unit produced are called
a. variable costs b. semivariable costs c. fixed costs d. indirect costs e. hidden costs
At a perfectly competitive firm, all of the following is true of the MRP curve EXCEPT
A) the MRP curve is the derived supply of labor. B) the MRP curve shifts leftward when labor productivity falls. C) the MRP curve shifts rightward when the product price rises. D) the MRP curve shifts leftward when the demand for the final product falls.