A movement from point C to point A in Figure 1.4 results in
A. A reallocation of resources from smartphone production to television production.
B. Permanent unemployment of workers producing plasma televisions.
C. More efficient production.
D. A reallocation of resources from television production to smartphone production.
Answer: D
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The figure above shows the costs associated with producing paper. When paper is produced, there is some pollution runoff into a lake. If paper production is 4 tons per week, the outcome is ________
A) efficient because marginal benefit equals marginal private cost B) efficient because private and external costs are accounted for C) inefficient because only marginal external benefits are accounted for D) inefficient because marginal social cost exceeds marginal social benefit
Countries that have experienced sustained increases in their standard of living have achieved them because of
A) higher rates of saving and investment. B) higher rates of population growth. C) sustained technological change. D) All of the above are correct.
In the year after the stock market crash of 1929, stock prices on average ___
a. were lower than they had been in decades b. were lower than in 1929 but higher than in the mid-1920s c. rebounded to a level higher than in 1929 d. cannot be reliably calculated because no buyers could be found for many stocks, and hence no prices were reported
A nation's merchandise trade balance reflects
a. trade in tangible products b. value of exports c. value of imports d. the same information as its balance of payments e. trade in tangibles and intangibles