According to the National Bureau of Economic Research, the United States has experienced ________ recessions since 1950
A) 4
B) 7
C) 10
D) 15
Answer: C
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A graph has a point that is either a maximum or a minimum. To the left of the point, the slope of relationship is positive. To the right of the point, the slope is negative
Is the point a maximum point or a minimum point? Be sure to draw a figure that supports your answer.
Education in the United States is heavily subsidized by the government. This fact suggest that
I. less than the efficient amount of education would be provided by an unregulated market. II. the marginal social benefit of education is greater than marginal social cost of education. A) I only B) II only C) both I and II D) neither I nor II
A plastics factory emits water pollutants into a nearby river
The marginal private cost of producing plastics is constant, the marginal external cost of the pollutants increases with the quantity of plasticis, and the demand for plastics is downward sloping. What happens to the socially optimal level of output and market price if the marginal external cost curve shifts upward? A) Optimal price and quantity decrease B) Optimal price increases, optimal quantity remains unchanged C) Optimal price increases, optimal quantity decreases D) Optimal price and quantity decline
Many government regulations are law because small groups receive large benefits from them
Indicate whether the statement is true or false