During a time of an economic downturn, it is likely that projected tax revenues will be __________ than anticipated, and expenditures will be _______ than anticipated.

Which of the following is true if the production of a good gives rise to a positive externality?

A) The marginal social benefit from each level of output exceeds the consumers' willingness to pay. B) The marginal private benefit from production exceeds the marginal social benefit. C) The demand curve for the good shifts to the left in the presence of positive externalities. D) The demand curve for the good shifts to the right in the presence of positive externalities.

A merger will be challenged by the FTC in a market where the Herfindahl-Hirschman Index (HHI) is ________, and the merger would increase it to ________

A) 2,900; 3,100. B) 1,700; 1,760 C) 800; 950 D) 2,000; 2,040