In the figure above, if the market is unregulated, at the equilibrium output the marginal external cost is

Economic experience since 1973 indicate that, under floating exchange rates

A) large and persistent departures from external balance were not prevented. B) large and persistent departures from external balance were prevented. C) changes in exchange rates failed to act as automatic stabilizers. D) reduced monetary policy autonomy. E) monetary policy autonomy was protected.

Economic rent is a concept that can be applied

A) only to land, as that is the only resource that is in limited supply. B) only to land and natural talent. C) to any factor of production that is fixed in supply. D) to any resource or factor of production that has a supply curve with a positive (upward) slope.