When airplanes take off and land at Logan Airport, the residents of East Boston complain about the noise. The same planes make the same noise during the trip to Boston from Paris, but on this run, over the Atlantic
a. the sound is muffled at high altitudes, creating less market failure
b. market failure does not apply because it is an international flight
c. there are no externalities because there are no third parties
d. the positive externalities of the flight outweigh the negative externalities of the noise
e. free riders are more numerous so that market failure is eliminated
C
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Thomas Malthus's predictions did not come to pass because he implicitly assumed that there would be no technological advances and did not foresee that agricultural land was not completely fixed in quantity or quality
a. True b. False Indicate whether the statement is true or false
According to Keynes, what households plan to save
A) always equals what firms plan to invest. B) sometimes equals what firms plan to invest. C) is always greater than what firms plan to invest. D) is always less than what firms plan to invest.