The economy's marginal social benefit curve for a public good is equal to the ________
A) horizontal sum of the individual demand curves
B) vertical sum of the individual marginal benefit curves
C) horizontal sum of the individual marginal benefit curves
D) vertical sum of the individual supply curves
B
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Since the value of the multiplier is always at least 1, which of the following is correct?
a. The size of the vertical shift in the aggregate expenditure line is always equal to the change in GDP b. The size of the vertical shift in the aggregate expenditure line is always less than the change in GDP c. The size of the vertical shift in the aggregate expenditure line is always greater than the change in GDP d. The size of the vertical shift in the aggregate expenditure line is always equal to or smaller than the change in GDP e. The MPC is always bigger than 1
The Law of Demand states that, other things being constant, when the price of a good increases then;
(a) Demand and Supply decrease. (b) Quantity demanded increases. (c) Consumers should switch to a different product. (d) None of the above.
Transferrable pollution permits make pollution reduction______.
a. unnecessary b. illegal c. expensive d. profitable
Which is a demand factor in economic growth?
A. An increase in total spending in the economy. B. Technological progress and innovation. C. More human and natural resources. D. An increase in the economy's stock of capital goods.