Marginal social benefit equals
A) marginal external benefit.
B) marginal private benefit.
C) marginal private benefit minus marginal external benefit.
D) marginal private benefit plus marginal external benefit.
E) marginal external benefit minus marginal private benefit.
D
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If everyone expects prices to fall but they do not, then
a. nothing happens. b. the IS curve shifts to the left and the AD curve shifts to the right. c. both IS and AD shift to the right. d. both IS and AD shift to the left. e. the IS curve shifts to the right, the AD curve shifts to the left.
Which of the following will cause a decrease in the demand for peanut butter?
a. an increase in the supply of peanut butter b. an increase in the price of peanut butter c. a doubling of the price of bread d. a drought in Georgia that destroyed 30 percent of the peanut crop e. an increase in consumer income
Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of:
A. frictional unemployment. B. cyclical unemployment. C. structural unemployment. D. involuntary unemployment.
The firm's short-run marginal-cost curve is increasing when:
A. Marginal product is increasing B. Marginal product is decreasing C. Total fixed cost is increasing D. Average fixed cost is decreasing