When the production or consumption of some good or service inflicts costs on a third party without compensation it is called a(n) __________ __________.
Fill in the blank(s) with the appropriate word(s).
external cost
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If the actual money multiplier equals the potential money multiplier and if the Federal Reserve wishes to increase the money supply by $500 when the reserve ratio is 10 percent, it should
A) buy $5000 of government bonds. B) sell $5000 of government bonds. C) sell $50 of government bonds. D) buy $50 of government bonds.
A scatter diagram of money growth rates and inflation rates from 1982 to 2010 indicates
a. a clear direct relationship between money growth and inflation. b. a clear indirect relationship between money growth and inflation. c. no clear relationship between money growth rates and inflation. d. that inflation is always and everywhere a monetary phenomenon.
If a competitive firm is operating at its efficient scale, then is the firm's profit positive, zero, or negative?
If the introduction of industrial robots in the poultry industry means that robots will now do most of the tasks in poultry processing plants, thereby replacing most of the unskilled workers. Then the real wage of unskilled workers in poultry processing plants is predicted to ________ and the employment of unskilled workers in poultry processing plants is predicted to ________.
A. decrease; decrease B. increase; not change C. increase; decrease D. increase; increase