The marginal benefit of pollution abatement is graphically illustrated by
A. a vertical curve.
B. a downward sloping curve.
C. a horizontal curve.
D. an upward sloping curve.
Answer: B
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The public goods problem refers to the tendency for private individuals to provide pure public goods in less-than-socially-ideal amounts because of free riding
Indicate whether the statement is true or false
Japan has developed a comparative advantage in designing and producing automobiles. The source of its comparative advantage in these products is
A) technology. B) a strong central government. C) a favorable climate. D) abundant supplies of natural resources.
Assume that the Federal Reserve has purchased a $1,000 security from an individual, the required reserve ratio is 20 percent, and that individual deposits the proceeds in his bank. What is the increase in excess reserves for this bank?
a. $200 b. $1,000 c. $1,200 d. $800 e. $2,000
Refer to the accompanying figure. It is efficient for this farmer to:
A. grow 1,000 bushels of wheat and 500 bushels of corn. B. grow 250 bushels of wheat and 500 bushels of corn. C. grow 500 bushels of wheat and 500 bushels of corn. D. grow 500 bushels of wheat and 250 bushels of corn.