In the absence of property rights, factories will dump waste into a waterway up to the point where ________ equals ________
A) marginal social cost; marginal social benefit
B) marginal social cost; marginal private cost
C) marginal private cost; marginal private benefit
D) marginal private cost; marginal social cost
C
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The question of whether the government should intervene at all in economic matters is entirely political
a. True b. False Indicate whether the statement is true or false
Because the liquidity-preference framework focuses on the
a. short run, it assumes the price level adjusts to bring the money market to equilibrium. b. short run, it assumes the interest rate adjusts to bring the money market to equilibrium. c. long run, it assumes the price level adjusts to bring the money market to equilibrium. d. long run, it assumes the interest rate adjusts to bring the money market to equilibrium.