Noise from a hard rock concert is an example of a situation in which
A. social costs that are not external costs.
B. social costs are greater than private costs.
C. social costs are less than private costs.
D. social costs are equal to private costs.
Answer: B
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According to the political business cycle, after an election, unless the central bank acts inflation is likely to
a. have risen. To counter this the central bank would raise interest rates. b. have risen. To counter this the central bank would lower interest rates. c. have fallen. To counter this the central bank would raise interest rates. d. have fallen. To counter this the central bank would lower interest rates.
The view that many welfare mothers have baby after baby to keep their welfare checks rising is a view held by
A. many conservatives. B. many liberals. C. both many liberals and conservatives. D. neither many liberals nor many conservatives.
This table shows the demand and supply schedule of a good. Price of GoodQDemandQsupply$0.005025$0.504026$1.003528$1.503131$2.002835$2.502740According to the table shown, the equilibrium in this market will occur at:
A. a price of $0.00 and a quantity of 75. B. a price of $1.50 and a quantity of 62. C. a price of $1.50 and a quantity of 31. D. Cannot be determined without more information
Maureen left her teaching job, which paid $30,000 per year, and invested $20,000 of her retirement fund (which was earning 10 percent interest) in a new real estate business. Her accountant predicted a $60,000 revenue the first year. Her husband, an economist, forecast her profit to be
a. $10,000. b. $28,000. c. $32,000. d. $60,000.