What is the marginal revenue of producing the fourth unit?
a. 90
b. 40
c. 20
d. 180
b
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What is the great advantage of adjudication over legislation in the management of negative externalities?
A) Adjudication has lower costs. B) Adjudication maintains the continuity of expectations. C) Courts are bound by the rule of law and legislatures are not. D) Courts can act more quickly than legislatures. E) There are no clear answers in such cases.
The financial system consists of financial ________, such as commercial banks, and financial markets, such as the stock market.
A. intermediaries B. allocations C. brokers D. corporations
An inward shift of the production possibilities curve could be caused by all of the following except
A. a war that destroys the nation's bridges, harbors and other infrastructure. B. a plague that wipes out one fifth of the population. C. a significant rise in the unemployment rate. D. 30 years of neglect of the nation's railroad and interstate highway systems.
When inflation rises, the nominal interest rate
a. rises, and people desire to hold more money. b. rises, and people desire to hold less money. c. falls, and people desire to hold more money. d. falls, and people desire to hold less money