While waiting in line to buy two tacos at 80 cents each and a medium drink for 90 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $3 . For Jordan, the marginal cost of the third taco would be:
a. zero.
b. 50 cents.
c. 80 cents.
d. $1.
Answer: b. 50 cents.
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Answer the question below based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.YearUnits of OutputPrice per Unit18$22103315441855206If year 2 is the base year, the Consumer Price Index for year 1 is
A. 67. B. 150. C. 100. D. 50.
Briefly describe the 6 main provisions of the Patient Protection and Affordable Care Act (ACA)?
What will be an ideal response?
Britain's departure from the gold standard in September 1931 ____ bank closures in the United States because ____
a. decreased, the British decided to invest their gold in the U.S b. increased, anyone who wanted gold had to withdraw it from U.S. banks c. decreased, Britain could now follow expansionary monetary policies at home d. increased, people realized that the United States was about to "bail out" Britain with large loans
Government outlays
a. are the same as "G" in the short-run macro model. b. do not include transfer payments. c. are always smaller than government purchases. d. are always greater than government purchases. e. tend to decline in the long run.