The level of output at which the short-run aggregate supply curve and the aggregate demand curve intersect is the full-employment level of GDP
Indicate whether the statement is true or false
FALSE
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Economic efficiency is achieved when there is a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production and
A) the difference between consumer surplus and producer surplus is maximized. B) economic surplus is minimized. C) consumer surplus plus producer surplus is maximized. D) economic surplus plus consumer surplus equals producer surplus.
Unlike dealers, brokers
A) deal in the primary market. B) deal in equity and not in debt. C) do not buy or sell for their own account. D) get most of their funds from consumer deposits.
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, Alpha will reduce its emissions to ________ tons.
A. 25 B. 50 C. 75 D. 100
More generous unemployment insurance would
a. raise structural unemployment. b. raise frictional unemployment. c. lower structural unemployment. d. lower frictional unemployment.