The quantity of labor supplied by households depends on factors such as the wage rate, prices, wealth, and nonlabor income.
Answer the following statement true (T) or false (F)
True
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Which of the following statements is true?
A. The lower transaction costs are, the more likely individuals will solve negative externality problems through a voluntary exchange. B. The higher transaction costs are, the more likely individuals will solve negative externality problems through a voluntary exchange. C. Coase agrees with Pigou that taxing those activities associated with negative externalities is a good idea. D. a and c E. none of the above
Why may investors buy a Treasury bill with a negative real interest rate?
A) fear of rising inflation B) concern about high yields on other bonds C) fear of default by the U.S. government D) concern about the high default risk of alternative investments
Like negative externalities, tradable permits are useful in allocating common resources because:
A. the depletion of common resources imposes a negative externality. B. the problem present in both is overconsumption. C. the socially optimal quantity is not the same as the individual consumers in either case. D. All of these statements are true.
The concept of "random walk" applies most closely to predictions of
a. consumer demand for a product after a price increase. b. the effects of a tax on the supply of oil. c. the effects of transfer payments on labor supply. d. the price of a particular stock one year from now.