There is great concern over the fact that global warming is causing permanent damage to the global environment. A study of the costs and benefits of purchasing carbon offsets to combat global warming is an example of
A. normative economics.
B. laissez-faire economics.
C. labor economics.
D. positive economics.
Answer: D
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Marginal cost is the increase in total ________ that results from a one-unit increase in ________
A) fixed cost; the fixed input B) cost; output C) variable cost; the variable input D) fixed cost; output
Profit can be maximized only where marginal revenue equals
A. average cost. B. total cost. C. marginal cost. D. average cost.
Automatic stabilizers act to moderate business cycles primarily through the personal income and consumption channels
a. True b. False Indicate whether the statement is true or false
During the financial crisis of 2007-2009, the U.S. government determined that
a. AIG was too big to fail but Lehman Brothers was not. b. Lehman Brothers was too big to fail but AIG was not. c. both Lehman Brothers and AIG were too big to fail. d. neither Lehman Brothers nor AIG were too big to fail.