The cost of producing an additional unit of a good or service that falls on people other than the producer of that good or service is the
A) marginal external cost.
B) marginal private cost.
C) marginal social cost.
D) None of the above answers is correct.
A
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What is the most important factor for Federal Reserve currency to be accepted as money?
A) its acceptance by businesses and households in the United States in exchange for goods and services B) its designation as legal tender by the federal government C) the willingness of the federal government to accept it in exchange for an equivalent amount of gold or silver coins D) the willingness of foreign businesses and banks to accept it in exchange for goods and services
The principle that the opportunity cost increases as the production of one output expands along the production possibilities curve is the:
a. law of increasing opportunity costs. b. law of supply. c. law of demand. d. law of diminishing returns.
In general, the quantity of savings supplied to be used for lending increases with the rate of interest
a. True b. False Indicate whether the statement is true or false
Our balance on current account was about minus $_________ billion in 2009.
A. 300 B. 420 C. 540 D. 660