Refer to the above figure. An external cost exists. The amount of that cost is represented by
A) P2.
B) Q1.
C) the vertical distance between point A and the supply curve S1.
D) the distance between C and A.
C
Economics
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Stickiness of wages
A) is unrelated to stickiness of prices. B) reinforces stickiness of prices. C) lessens the stickiness of prices. D) may or may not reinforce stickiness of prices.
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All else equal, if oil prices increase, annual oil consumption will ________ and the years it will take to deplete the stock of oil will most likely ________
A) decrease; increase. B) decrease; decrease C) increase; increase D) increase; decrease
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