Which of the following is NOT an example of common property?
A. cable TV
B. gravity
C. air
D. sunshine
Answer: A
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Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Suppose that the government is trying to decide between allocating its resources to build more dams or to build more freeways
In terms of forgone dams, as more freeways are constructed, the marginal benefit of additional freeways ________ and the marginal cost of additional freeways ________. A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
If the total cost of producing 10 units equals $90, and the average total cost of producing 11 units equals $8.75, then the marginal cost of the eleventh unit produced: a. is definitely greater than the marginal cost of producing the tenth unit. b. is definitely less than the marginal cost of producing the tenth unit. c. is less than the average total cost of producing ten units
d. is greater than the average total cost of producing ten units.