Recently, new discount window lending procedures set a penalty rate that is normally __________ short-term market interest rates

A plastics factory emits water pollutants into a nearby river

The marginal private cost of producing plastics is constant, the marginal external cost of the pollutants increases with the quantity of plasticis, and the demand for plastics is downward sloping. What happens to the socially optimal level of output and market price if the marginal external cost curve shifts upward? A) Optimal price and quantity decrease B) Optimal price increases, optimal quantity remains unchanged C) Optimal price increases, optimal quantity decreases D) Optimal price and quantity decline

The theory of comparative advantage suggests that a(n):

a. industrialized country should not import. b. country that is not competitive should import everything. c. country specialize in producing goods or services for which it has a lower opportunity cost. d. none of these.