Road traffic
a. should be provided free of charge
b. is efficient on a toll road
c. creates a positive externality
d. is efficient in London, England
e. creates a negative externality
E
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As the expected future exchange rate for dollars increases
A) the demand for U.S. dollars increases. B) the supply of U.S. dollars decreases. C) both the demand for U.S. dollars and the supply of U.S. dollars increase D) Both answers A and B are correct.
In the Keynesian model, the 45-degree line consists of the points where
a. planned consumption is equal to planned saving. b. total output is equal to aggregate expenditure. c. total consumption is equal to total expenditure. d. total saving equals total investment.
Marginal factor cost is
A) the change in total costs due to a one-unit change in the quantity of the good produced. B) the change in total costs due to a one-unit increase in the variable input. C) the change in the price of an input when an additional unit of the input is hired. D) the marginal cost of changing the rate of production in the long run.
The average product is calculated by dividing input by the number of hours worked.
Answer the following statement true (T) or false (F)