One way of addressing the associated market failure that generates both private costs and external costs is for this activity to be
A) left alone.
B) taxed.
C) subsidized.
D) banned.
B
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Which central coordination task has claimed the most attention of central planners?
a. Output selection b. Production planning c. Distribution d. Rationing
The price of bananas will increase in response to:
A. an increase quantity of bananas supplied. B. an excess demand for bananas. C. an excess supply of bananas. D. an increase in the supply of bananas.
As disposable income increases, consumption:
A. and saving both increase. B. and saving both decrease. C. decreases and saving increases. D. increases and saving decreases.
Technological change brings a ________ to firms that adopt the new technology
A) permanent economic profit B) temporary economic profit C) permanent economic loss D) temporary economic loss E) temporary normal profit