When consumers decide to increase household debt, this action will:
A. Shift the consumption schedule upward
B. Shift the consumption schedule downward
C. Increase the amount consumed along a stable consumption schedule
D. Decrease the amount consumed along a stable consumption schedule
A. Shift the consumption schedule upward
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Salmon fishing in Alaska is a seasonal business; May through September is the best time to bait salmon and halibut. Toland Fisheries, a small commercial fishery, recorded its highest ever catch last year
They started this year's fishing season with the same number of workers and equipment. With the new season also starting well, Toland has increased hiring substantially. However, the fishery did not make any additional investment in trawlers and other fishing equipment. Other things remaining unchanged, what is likely to happen to the marginal product of each new worker in the short run? a. Other things remaining unchanged, what is likely to happen to the marginal product of each new worker in the short run? b. Is the outcome likely to be different in the long run? Explain your answer.
It is difficult to get the necessary information to apply corrective taxes in the real world, thus _____
a. most government reluctantly apply to reduce negative externalities b. use regulation to reduce negative externalities c. use moral suasion to reduce negative externalities d. most governments fail to do anything to reduce negative externalities