Market efficiency takes place when the marginal benefit of the last unit produced is ______.
a. equal to the marginal cost of producing it
b. greater than the marginal cost of producing it
c. less than the marginal cost of producing it
d. the square of the marginal cost of producing it
a. equal to the marginal cost of producing it
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Which of the following statements about the financial crisis that began in 2008 is true?
A) It was a great illustration of how interdependent national economies are. B) Most economists agree that it originated in China. C) It only lasted 3 weeks. D) It only affected housing markets.
Assuming that the demand and supply of a good have moved in opposite directions, but by the same amount, the new equilibrium would represent: a. an increase in price and an increase in quantity exchanged
b. no change in price and an increase in quantity exchanged. c. a decrease in price and a decrease in quantity exchanged. d. an indeterminate change in price, but no change in quantity exchanged.
Which of the following line items is always a credit in the U.S. balance of payments?
a. U.S.-owned assets abroad b. imports of goods c. net balance d. exports of goods
Considering the concept of rational behavior, which of the following requests will likely get the most help?
a. Could you call me at your convenience to give me tips about investing? b. Could you meet with me right away to give me investment advice? c. Could you provide me with a detailed list of investment advice as soon as possible? d. Could you drive 20 miles to my house to give me investment advice?