Another word for elasticity is:
a. responsiveness.
b. happiness.
c. bonus
d. profit.
e. surplus.
a
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Which of the following is not an example of a final good or service (from the perspective of the national income accounts)?
A. A new string trimmer purchased by Green Grass Lawn Care Services, which employees will use to maintain customer's yards B. Seedlings and saplings purchased for resale by Wendy's Garden Center C. New lawn mowers sold to consumers by Cut-Rite Lawn Equipment & Supplies in their retail store D. Flowers and pots purchased by homeowner Joe Smith for his garden
When the amount of output is such that marginal social benefit exceeds marginal social cost, then to reach the efficient quantity
A) production should be increased. B) production should be decreased. C) production should remain constant. D) More information is needed to determine if production should be increased, decreased, or not changed.
According to the open-economy macroeconomic model, if the U.S. government budget deficit increases, then both U.S. domestic investment and U.S. net capital outflow decrease
a. True b. False Indicate whether the statement is true or false
If a system of emission charges forces firms to internalize all external costs:
A.) Relative prices of polluting activities will rise. B.) The elimination of externalities will fully compensate for any excessive market power. C.) The elimination of externalities will allow greater production of all goods and services. D.) Pollution will increase.