An economy's marginal social benefit curve for a private good is obtained by summing the individual marginal
a) cost curves horizontally
b) benefit curves vertically
c) benefit curves diagonally
d) benefit curves horizontally
Ans: d) benefit curves horizontally
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The construction of the interstate highway system in the United States is an example of a government policy to promote economic growth by:
A. improving technology. B. increasing human capital. C. increasing physical capital. D. improving the social and legal environment.
The demand for one money is the supply of another money
Indicate whether the statement is true or false
Sue's Bagel Shop wants to estimate how responsive the demand for bagels is to a change in her cream cheese prices. To accomplish this task, the following data would not be needed:
a. percentage change in bagel prices b. original price of cream cheese c. new quantity of bagels sold d. original quantity of bagels sold e. new price of cream cheese
Studies have shown that in the 1980s the wage gap between college-educated workers and those with high school education or less
a. decreased dramatically. b. decreased slightly. c. remained unchanged. d. widened dramatically.