I am not 100% sure....

I am not 100% sure what the answers are for the following multi-choice questions. Internalizing an externality refers to making a. buyers and sellers take into account the external effects of their actions. b. certain that all market transaction benefits go to only buyers and sellers. c. certain government does not disrupt the internal workings of the market. d. buyers pay the full price for the products they purchase. The government can internalize a positive externality by a. taxing production which would decrease supply. b. taxing production which would increase supply. c. subsidizing production which would decrease sup... click for more

Please review and see if I have answered the questions (4) correctly

Use the following data to answer questions 1-3 (be sure to provide all calculations). *Please see attachment* 1. Calculate real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? 2. Calculate the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase? 3. Now calculate real GDP for 2004 and 2005 using 2005 prices. By what percent did real GDP grow? Review the GDP information for the past few years from the Bureau of Economic Analysis's Website. Provide a brief summary of the GDP trends over that timeframe and discuss two or three events which may have caused these trends. My answers are in BOLD. ... click for more

Demand function vs. Demand curve

What is the difference between a demand function and a demand curve?

affects on the demand curve

How will each of the following affect the position of the demand curve for videocassette recorders (VCRs)? a. An increase in the price of VCR tapes. b. A decrease in the price of VCRs. c. An increase in per capita income. d. A decrease in the price of movie tickets.

demand for a product is inelastic

If the demand for a product is inelastic, what will happen to total revenue if price is increased? Explain.