Ronald Coase argued that property rights should always be assigned to the party that is harmed by the negative externality.
Answer the following statement true (T) or false (F)
False
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In order to ________ the long-run real interest rate, the Fed needs to ________
A) raise; raise the long-run inflation expectations B) raise; lower the long-run nominal interest rate C) lower; raise the long-run nominal interest rate D) lower; raise the long-run inflation expectations
Use the following table to answer questions a-c
Output (Q): 0 1 2 3 4 5 6 Total Cost (TC): $36 $45 $52 $61 $74 $91 $110 a. What is the average fixed cost of producing 4 units of output? b. What is the marginal cost of producing the third unit of output? c. At what level of output does the firm encounter diminishing marginal returns? How do you know?
Refer to the above figure. Suppose demand is D2 and then increases to D3. The change in economic rent is
A) zero. B) area CIHF. C) area CIGO. D) area BJC.
The income-expenditure identity for a closed economy is:
A. Y = C + I + G. B. Im ? Ex = C + I. C. Y = C + I + G + NX. D. Y + G = C + I ? NX.