The total cost to society of producing an additional unit of a good or service is the marginal
A. private cost.
B. damage cost.
C. social cost.
D. external cost.
Answer: C
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A decrease in price allows a consumer to attain a higher indifference curve
Indicate whether the statement is true or false
In 1768-72, the top ten commodity exports of the thirteen colonies included all of the following except
a. tobacco b. bread and flour c. fish d. horses e. All of the above were among the top ten exports.
Income inequality is indicated by a Lorenz curve that:
a. bows up, away from the line of income equality. b. bows down, away from the line of income equality. c. lies parallel to the line of income equality. d. coincides with the line of income equality. e. approaches the vertical axis.
Which of the following contribute to increases in productivity?
a. incentives for innovation b. more physical capital c. an improved education system d. all of the above