If there is a decline in world autonomous consumption ________
A) the domestic real interest rate would fall
B) domestic investment would rise
C) net exports would fall
D) all of the above
E) none of the above
D
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It would have been very difficult to clean up Lake Erie some years ago without government participation primarily because
A) environmental improvements benefit everyone and should therefore be financed from taxes. B) the lake is a navigable body of water. C) the lake is officially public property. D) the pursuit of profit will cause environmental deterioration. E) too many people could benefit without helping to pay the cost of the cleanup.
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then the firm's Lerner Index equals
A) 58/16. B) 16/42. C) 58/42. D) 42/58.