Wages in Baltonia are downwardly rigid. Which of the following will happen if a recession occurs in the country?
A) Employment will fall less than if wages were flexible.
B) Unemployment will fall less than if wages were flexible.
C) Employment will fall more than if wages were flexible.
D) Unemployment will fall more than if wages were flexible.
C
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Which of the following government actions is appropriate in a market with an external benefit?
A) taxes B) vouchers C) marketable permits D) setting a tax equal to the transactions costs E) price ceiling
A product is considered to be excludable if it is jointly owned by all members of a community
Indicate whether the statement is true or false
Suppose a large tree on Jack's property blocks Amy's view of the ocean. Jack accepts Amy's offer of $2,000 to cut down the tree. This is an example of
A) internalizing externalities via voluntary agreements. B) a result of logrolling. C) a consequence of a positive externality. D) a consequence of private costs exceeding social costs.
Refer to the data. From this information we can conclude that the net foreign factor income is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. negative $5 billion.
B. zero.
C. positive $5 billion.
D. positive $15 billion.