A fire extinguisher is an example of a A. private good that generates external costs. B. private good that generates external benefits. Your answer is correct.C. public good that generates external benefits. D. public good that generates internal benefits.

If a price ceiling is introduced in the market for milk below the market equilibrium price, then the producer surplus made by dairy farmers

A) will increase. B) will decrease. C) will not change. D) might increase or decrease depending on whether the demand for milk increases or decreases. E) might increase or decrease depending on whether the supply of milk decreases or increases.

Describe the profit-maximizing firm's decision about how much to spend on innovation

Slow growth in US incomes during the 1970s and 1980s was primarily due to

a. slow productivity growth in the US. b. increased competition from Japan. c. increased competition from European countries. d. a rapid decrease in the quantity of money in the economy.

A decrease in the domestic _____ causes domestic goods to become less expensive relative to foreign goods and increases net exports. The increase in net exports causes a(n) _____ in the quantity of domestic aggregate goods and services demanded and is known as the _____ effect

Fill in the blank(s) with correct word