Economists argue that individuals should continue to consume until total benefit equals total cost.
Answer the following statement true (T) or false (F)
False
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Which of the following statements about the economically efficient level of air pollution is correct?
A) The economically efficient level of pollution occurs where the marginal cost of pollution reduction equals the marginal social benefit of reduction. B) The economically efficient level of pollution occurs where total benefits of pollution reduction are maximized. C) The economically efficient level of pollution is zero. D) The economically efficient level of pollution occurs where all social costs equal all social benefits.
To encourage more investment, Mexico has lowered its tax rates to reduce the user cost of capital. Argentina is unable to pay back its foreign debts, causing its expected future marginal product of capital to fall
Mexico's real exchange rate will ________ and its net exports will ________. A) depreciate; fall B) appreciate; rise C) depreciate; rise D) appreciate; fall
When one person knows more than another, it creates a situation:
A. in which the transaction is always regretted. B. called information asymmetry. C. in which the transaction will not occur. D. called information dominance.
Which of the following factors is associated with products with a highly price elastic demand?
a. Few close substitutes. b. A very short time period for consumers to respond to price changes. c. Many very close substitutes. d. A per unit price that is only a very small portion of most peoples' budgets.