When negative externalities are present in a market,
a. producers will be affected but consumers will not.
b. producers will supply too much of the product.
c. demand will be too high.
d. the market will still maximize total benefits.
b
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Refer to Table 17-3. What is the amount of revenue added as a result of hiring the fourth worker?
A) $7,200 B) $1,200 C) 90 microwaves D) 15 microwaves
If the saving rate increases, break-even investment will be ________ than investment, and GDP per worker will ________
A) greater; increases B) greater; decreases C) less; increases D) less; decreases
Corruption is only present in developing nations
Indicate whether the statement is true or false
Politicians are often heard saying that tuition at state universities should be kept low "to make education equally accessible to all residents of the state, regardless of income." Assuming that state funding for the universities is held constant, what condition will prevail if tuition is held below equilibrium price? Will education really be "equally accessible" under these conditions?
What will be an ideal response?