Which of the following are not valid arguments against the effectiveness of the fiscal stimulus bill?
a. Employment continued to fall into early 2010.
b. Without stimulus recessions come to an end naturally.
c. State and local government spending increased.
d. Monetary policy played a large role in stimulating the economy.
c
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What important function does adjudication perform in the process of reducing negative externalities?
A) It allocates the revenue from negative externalities to the people who have been damaged. B) It arbitrates between beneficiaries of negative externalities and the people who must bear their costs. C) It decides whether punitive or merely compensatory damages will be awarded. D) It discovers who has which rights. E) It imposes criminal penalties on the people responsible for generating negative externalities.
In the above figure, the total variable cost curve is curve
A) A. B) B. C) C. D) none of the curves in the figure.