Long Beach Island, off the coast of New Jersey, is considering building a system of satellite towers that will enhance communication during emergencies such as hurricanes
The efficient quantity of satellite towers is definitely the quantity of such that the A) marginal social cost is equal to the marginal social benefit.
B) marginal private cost is equal to the marginal social benefit.
C) marginal social cost is less than the marginal social benefit.
D) marginal private cost is less than the marginal social benefit.
A
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In the above figure, if the interest rate is 8 percent per year, the quantity of money demanded is
A) less than the quantity of money supplied, and the interest rate will change. B) less than the quantity of money supplied, and the demand curve for money will shift. C) greater than the quantity of money supplied, and the supply curve of money will shift. D) greater than the quantity of money supplied, and the interest rate will change. E) greater than the quantity of money supplied, and the demand curve for money will shift.
In a general equilibrium model
A) all markets but one clear. B) there are no fluctuations. C) all prices are exogenous. D) all prices are endogenous.
The contributive standard of income distribution is met by
A) setting wages according to marginal productivity. B) having a highly progressive income tax. C) having the government determine all wages. D) using local committees to determine the needs of families in the area.
Explain the difference between a change in the quantity demanded and a shift in the demand curve
What will be an ideal response?