When external costs are present,
A) competitive, unregulated markets are efficient.
B) transaction costs will be high.
C) a tax might be able to create efficiency.
D) property rights have already been established.
C
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Jen spends her afternoon at the beach, paying $1 to rent a beach umbrella and $11 for food and drinks rather than spending an equal amount of money to go to a movie. Her opportunity cost of going to the beach is:
A. the value she places on seeing the movie. B. the value she places on seeing the movie plus the $12 she spent on the umbrella, food and drinks. C. the $12 she spent on the umbrella, food and drinks. D. only $0 because she would have spent $12 to go to the movie.
Refer to the scenario above. The total value in your account, at the end of a year, is equal to:
A) $520. B) $525. C) $550.50. D) $572.
If the demand for farm products is income elastic, that would mean that farm products were a necessity
Indicate whether the statement is true or false
Explain how a change in the reserve ratio affects the money supply.
What will be an ideal response?