Which of the following would be considered a component of government purchases?
a. Both d and e
b. All of the following
c. Welfare payments
d. Police salaries
e. Social security payments
D
Economics
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In terms of cost-benefit analysis, explain why a competitive market with an externality produces too much pollution
What will be an ideal response?
Economics
Generally, the supply of a resource in the short run will be
a. more elastic than in the long run. b. less elastic than in the long run. c. equally elastic as the supply of the resource in the long run. d. directly related to the elasticity of demand for the product that the resource helps produce.
Economics