In the above figure, CBL is the cost of breaking the law. If the good in the figure is made illegal and penalties are imposed on both buyers and sellers, then its price per unit
A) will be higher than if it was not illegal.
B) will be lower than if it was not illegal.
C) will be the same as when it was not illegal.
D) cannot be compared with its price when it was legal.
B
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A believer in the need for a CGRR of the money supply policy must be ________ about the ability of the private economy to self-stabilize and ________ about the accuracy of discretionary stabilization policy
A) optimistic, optimistic B) optimistic, pessimistic C) pessimistic, optimistic D) pessimistic, pessimistic
"Because resources are scarce, the production of more capital goods means that fewer resources are available to produce consumption goods, so there is less current consumption." Do you agree or disagree? Explain
What will be an ideal response?