Refer to Figure 5-4. What does S1 represent?
A) the market supply curve that reflects private cost
B) the market supply curve that reflects only private benefit
C) the market supply curve that reflects only external cost
D) the market supply curve that reflects social cost
A
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Under the Gold standard, a country is said to be in balance of payments equilibrium when the current account balance is
A) financed entirely by international lending without reserve movements. B) financed by international lending and with reserve movements. C) equal to zero. D) financed entirely by international lending and past gold reserves. E) financed entirely by gold reserves.
A decrease in the discount rate by the Federal Reserve causes the money stock to expand
a. True b. False Indicate whether the statement is true or false