The problem of excess pollution mainly occurs because of
A. asymmetric information.
B. a positive externality.
C. a monopoly.
D. a negative externality.
Answer: D
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Under fixed exchange rate, the response of an economy to a temporary fall in foreign demand for its exports is
A) the currency appreciates, and output falls. B) the currency depreciates, and output falls. C) the currency remains the same, and output decreases. D) the currency depreciates, and output remains constant. E) the currency appreciates, and output remains the same.
market
What will be an ideal response?
Which is a barrier to entry?
A. Profit maximization B. Patents C. Revenue maximization D. Elastic product demand
The production possibility curve:
A. is based on the law of diminishing returns. B. is convex to the origin. C. is the boundary between attainable and unattainable outputs. D. reflects the mixed economy found with most economic systems.