Because of the ________ of vaccinations, economic efficiency would be improved if more people were vaccinated
A) positive externality B) moral hazard
C) adverse selection D) negative externality
A
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Which of the following is NOT true according to Say's law?
A) Producing goods and services generates the means and the willingness to purchase other goods and services. B) Desired expenditures will always be higher than actual expenditures. C) Supply creates its own demand. D) No overproduction is possible in a market economy in the long run.
Explain carefully why the assumption of identical technology worldwide eliminates the classical basis for international trade
What will be an ideal response?
Suppose the economy is producing at the natural rate of output
Assuming a fixed natural rate of output and everything else held constant, the development of a new, more productive technology will cause ________ in the unemployment rate in the short run and ________ in inflation in the short run. A) an increase; an increase B) a decrease; a decrease C) a decrease; an increase D) no change; no change
Refer to Table 9-5. The required reserve ratio is 10%. What is the amount of Bolton Bank's excess reserves?
A) $30 million B) $70 million C) $100 million D) zero