The difference between an orthodox stabilization plan and a heterodox stabilization plan is that the orthodox plan
A) targets the problem of inflation, while the heterodox plan targets unemployment.
B) reduces trade flows less than the heterodox plan.
C) does not include higher taxes and the heterodox plan does.
D) does not include wage and price controls and the heterodox plan does.
D
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State whether each of the following goods is nonrival, nonexcludable, or both:
a. a botanical garden b. a public beach c. a congested interstate highway d. a toll bridge e. street lights
Which of the following is an example of shoe-leather cost?
a. Diane has to shut down her supermarket for a day in order to change the prices on everything. b. Viktor has to pay a value added tax on raw materials that he is manufacturing into goods for resale. c. Zara has to calculate the depreciation of each of the goods in her office each year. d. Ishmael goes to the ATM twice a week because consumer prices have been fluctuating so rapidly.