At the current quantity of table saws, the marginal social cost is more than the marginal social benefit. Then
A) production of table saws should be decreased to reach the efficient level.
B) production of table saws should be increased to reach the efficient level.
C) production of table saws is currently at the efficient level.
D) producer surplus will be larger than consumer surplus.
A
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High economic growth of a country refers to
Edward Denison found that labor's contribution to output growth in the United States since 1929 was attributable to all the factors below except
A) rising population. B) an increase in the percentage of the population in the labor force. C) an increase in the number of hours worked per person. D) higher educational levels.
In a free-market economy, prices coordinate society's decisions about
a. how and for whom to produce. b. what, how, and for whom to produce. c. how and for whom to produce but not how much to produce. d. how much and for whom to produce but not how to produce.
Under a fixed exchange-rate system, the revaluation of the local currency against the dollar would result in an improvement in the country's trade balance with the United States.
Answer the following statement true (T) or false (F)