The marginal social benefit is the:
A. benefit gained by the last user.
B. sum of the marginal benefit gained by each individual user.
C. total benefit gained by the last user.
D. sum of the benefit gained by each individual user.
B. sum of the marginal benefit gained by each individual user.
You might also like to view...
Josh runs a landscaping business in Vermont and decides to hire two people in India to maintain his bookkeeping for him electronically. Josh can pay them much less than he would pay a bookkeeper in the U.S., and the workers enjoy a higher quality of life in India thanks to their jobs with Josh's company. Josh's actions are an example of:
A. exporting. B. foreign direct investment. C. importing. D. foreign portfolio investment.
Index funds are financial intermediaries, but municipal bonds are not
a. True b. False Indicate whether the statement is true or false
Which of the following statements correctly summarizes a difference between the layperson's and the economist's views of the net benefits of trade?
A. Economists focus on trade in manufactured goods while laypeople also focus on trade involving the services of people who manage the trade. B. Economists often argue that the gains from trade in the form of low consumer prices tend to be widespread and not easily recognizable while the costs in jobs lost tend to be concentrated and readily identifiable. C. Economists often argue that most U.S. jobs are at risk of outsourcing while laypeople intuitively recognize that inherent in comparative advantage is that each country has a comparative advantage in the production of some good. D. Economists most often argue that the costs of trade outweigh the benefits while laypeople often argue that the benefits of trade outweigh the costs.
When economists refer to capital flight, they are speaking of an:
A. outflow of financial capital from a certain country. B. outflow of real capital from a certain country. C. outflow of financial and real capital from a certain country. D. outflow of human capital from a certain country.