________ is a good measure of what society gives up by using resources to produce more of a good or service.
A. Marginal cost
B. Total cost of production
C. Marginal revenue product
D. Marginal revenue
Answer: A
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According to real business cycle theory, a likely cause of an increase in employment is ________
A) an increase in the real wage B) an increase in aggregate demand C) a decrease in the real wage D) a decrease in the real interest rate
Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called
a. the natural rate of unemployment. b. cyclical unemployment. c. structural unemployment. d. frictional unemployment.
The view Dambisa Moyo promotes in her book "Dead Aid" is:
A. so much corruption and embezzlement exists around aid money, it causes more disruption and inefficiency than it helps. B. the intended recipients of the money rarely receive it and, when they do, oftentimes don't know how to use it efficiently to actually progress. C. aid distorts the marketplace, actually hurting local economies. D. None of these statements is true.
Explain why an external cost leads to an over-allocation of resources to the production of a good
What will be an ideal response?