As we approach total pollution abatement
A) the marginal benefit to society declines.
B) the marginal benefit to society increases.
C) the marginal benefit to society increases, but at a decreasing rate.
D) the marginal cost to society declines.
A
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The unemployment rate was increasing from 6 percent to 7 percent could be interpreted as an increase in the natural rate of
a. inflation. b. unemployment. c. economic growth. d. aggregate supply.
Economists who believe that market economies are inherently unstable argue that the crisis of 2008 was primarily the result of
a. the expansionary policies of the Fed that caused the housing boom. b. housing regulations that undermined sound lending practices. c. the leveraged lending practices of banks and the fear that retarded both consumption and investment in the latter half of 2008. d. persistently high interest rates during the decade leading up to the crisis.
Consider the following game. You roll a 6-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The $50 when you "win" and the -$10 when you "lose" are known as
A. payoffs. B. incentives. C. expected values. D. winnings and losings, respectively.
Suppose the government decided to tighten monetary policy and decrease government expenditures. In the short run in the Keynesian model, the effect of these policies would be to ________ the real interest rate and ________ the level of output.
A. lower; have an ambiguous effect on B. raise; decrease C. lower; decrease D. have an ambiguous effect on; decrease