A country has a comparative advantage in the production of DVD players if it can produce DVD players at a lower opportunity cost than others
a. True
b. False
Indicate whether the statement is true or false
True
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The above figure shows the marginal private benefit and marginal social cost of a college education. If society's external benefits from college graduates is $10,000 each, then the
A) marginal social cost curve lies $10,000 to the left of the private marginal benefit curve. B) marginal social cost curve lies $10,000 to the right of the private marginal benefit curve. C) marginal social benefit curve lies $10,000 below the private marginal benefit curve. D) marginal social benefit curve lies $10,000 above the private marginal benefit curve.
During a period of economic expansion, we would expect increasing levels of employment
a. True b. False Indicate whether the statement is true or false
An economic boom in one country usually causes a recession in other countries.
Answer the following statement true (T) or false (F)
An example of a good that is rival in consumption is:
A. tap water. B. a sweater. C. bottled water. D. All of these goods are rival in consumption.