The impact of higher taxes would be examined by
A. a macroeconomist.
B. a microeconomist.
C. both a macroeconomist and a microeconomist.
D. neither a macroeconomist nor a microeconomist.
Answer: C
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In going from the simple to the flexible accelerator, j is set at ________, and v* is ________
A) one, allowed to vary B) one, set at less than one C) less than one, set at less than one D) less than one, set at one E) less than one, allowed to vary
Which of the following is an example of a positive externality? a. Nick spends $500 to landscape his yard and his property increases in value by $1,000
b. Mick spends $500 on a stereo, which he plays so loudly that his neighbors are willing to pay him $1,000 not to play the stereo. c. An increase in the demand for computers causes IBM to hire more workers. d. Complaints of speeding cause police to increase surveillance. e. Lisa puts new concrete on her driveway and now the neighboring kids use it for skateboarding.
If a firm is operating beyond the minimum point of its ATC curve, then marginal cost is
A. greater than ATC and rising. B. greater than ATC and falling. C. less than ATC and rising. D. less than ATC and falling.
When a person can pass some of her costs of using a resource on to someone else,
A. she uses too much of the resource. B. the use of the resource is not affected by her actions. C. the internal costs of using the resource exceed the private costs. D. she uses too little of the resource.