A credible policy designed to lower inflation is likely to push the economy into recession

During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee

How is the gain from imports distributed between consumers and domestic producers? A) U.S. producer surplus shrinks. B) U.S. consumer surplus increases. C) Total U.S. surplus increases. D) All the above answers are correct.

Air pollution generated by a steel mill is an example of

A. a negative production externality. B. the free-rider problem. C. a positive production externality. D. a public good.