The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's total benefit from consuming 15 sodas is
A) $15.00.
B) $26.25.
C) $11.25.
D) $0.
E) None of the above answers is correct.
B
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The prediction of permanent, growing shortages of fresh drinking water by the year 2050 assumes
A) water prices will increase. B) water prices will decrease. C) water prices will not adjust appropriately to coordinate the market. D) nobody will be able to collect water from rain and snowstorms.
According to real business cycle theory
A) monetary policy is driving business cycles. B) Federal Reserve actions need to be watched closely. C) technology shocks have a major role in business cycles. D) cash-in-advance is necessarily to explain business cycles.
From 1973 to 1995, the growth rate of labor productivity in the United States was approximately
A. ?0.8 percent. B. 1.4 percent. C. 2.9 percent. D. 5.1 percent.
What is the economic rationale for the law of increasing opportunity costs?
Please provide the best answer for the statement.