Steve raises bees to pollinate his orange trees. One of the bees just stung him. This is a(n)
A. social cost.
B. common property.
C. opportunity cost.
D. private cost.
Answer: D
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Inflation is measured
A) as the percentage change in the consumer price index. B) as the percentage change in real GDP. C) using the level of real GDP. D) using the level of the consumer price index.
An important problem facing the Fed is that
A) the goals for economic growth and price stability may conflict in the short run. B) it lost effective control over the monetary base. C) it has been given responsibility for meeting policy goals, but true control over monetary policy remains with Congress. D) it has been given responsibility for meeting policy goals, but true control over monetary policy remains with the President.
A change in which of the following causes a shift in the IS curve?
A) autonomous investment B) autonomous net exports C) taxes D) all of the above E) none of the above
A government strong enough to protect individual rights is also strong enough to violate them
a. True b. False