Which of the following activities, if any, represents an external benefit?
a. The benefit to a consumer from watching a film on DVD
b. The reduction in air quality resulting from industrial development in an urban area.
c. The increase in the value of property belonging to your neighbors when you hire a landscaper to beautify your front yard.
d. The reduction in property values when a new airport is built in a neighborhood.
c
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Pedro buys market basket A that includes 10 books at a price of $20 per book and 10 DVDs at a price of $10 per DVD. Market basket B contains 12 books and 12 DVDs. Based on this information, which of the following statements is NOT true?
A) Revealed preference analysis implies that Pedro only prefers basket B to basket A if basket A is more expensive. B) Pedro prefers market basket B to basket A. C) Market basket B will cost more than basket A. D) If the prices change and Pedro chooses market basket C, which now costs the same as basket B, then basket C is prefer to basket A.
Refer to Figure 9.6. The amount the government pays in the market to implement this policy is
A) $20. B) $3000. C) $4000. D) $6000. E) $12,000.
Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?
Eurodollars are:
A. euro-denominated deposits in U.S. Banks. B. dollars that are specially printed for use abroad to minimize counterfeiting. C. the currency of the European Economic Union. D. dollar-denominated deposits in banks outside the United States.