If a consumer's budget line for food (F) and shelter (S) is represented as F = 250 - 5S, and 50 units of food is purchased, how many units of shelter can be purchased at most?
A) 0
B) 40
C) 60
D) 80
B
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The firm's gain in profit from hiring another worker is
A) the marginal revenue product of the extra worker. B) the extra output of the extra worker. C) the reduction in costs from hiring another worker. D) the difference between marginal revenue product and the wage of the worker.
At the time of the American Revolution, the Industrial Revolution first launched in
(a) France. (b) Germany. (c) England. (d) Spain.
Apartment dwellers near Wrigley Field in Chicago are often able to watch the Chicago Cubs baseball team play from the roof of their apartment building, without having to pay the cost of buying a ticket. This is an example of a:
a. marginal social cost. b. negative externality. c. positive externality. d. deadweight loss.
Any transaction that leads to a payment by a country's residents or government is a(n)
A. deficit item. B. surplus item. C. debt. D. asset.