University researchers create a positive externality because what they discover in their research labs can easily be learned by others who haven't contributed to the research costs. What could the federal government do to equate the equilibrium quantity of university research and the socially optimal quantity of university research produced?

Which of the following activities will not be included in the GDP of an economy?

a. Sam buying a toy car imported from China from a toy shop in Boston b. Jane paying a certain amount to Moe to mow her lawn c. Bob buying a pound of cherries to garnish the cakes made in his bakery shop d. Corey paying his landlord rent for his new apartment

If the government wants to reduce the burning of fossil fuels, it should impose a tax on

a. buyers of gasoline. b. sellers of gasoline. c. either buyers or sellers of gasoline. d. whichever side of the market is less elastic.