It is efficient not to alter the amount of pollution produced by the market.
Answer the following statement true (T) or false (F)
False
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When government purchases are increased, the amount of the increase in aggregate demand primarily depends on
A. the size of the multiplier. B. the average propensity to consume. C. income taxes. D. exchange rates.
Refer to the scenario above. In equilibrium, Neil will give ________ to Claire if no other factors such as fairness are at work
A) 5 cookies B) 1 cookie C) 4 cookies D) 2 cookies
For identical cost conditions, the long-run equilibrium price under any form of imperfect competition is ____ than the long-run equilibrium price in perfect competition because of ____.
a. higher; perfectly elastic demand in imperfect competition. b. higher; less than perfectly elastic demand in imperfect competition. c. lower; perfectly elastic demand in imperfect competition. d. lower; less than perfectly elastic demand in imperfect competition.
Economists refer to the simple relationship between consumption and disposable income as:
a. autonomous consumption. b. the marginal propensity to consume. c. the absolute disposable income hypothesis. d. disposable income. e. the consumption function.