For a common resource, the marginal private benefit of the resource is greater than the marginal social benefit

Indicate whether the statement is true or false


FALSE

Economics

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Supply is elastic if

A) a 1 percent change in price leads to a larger percentage change in quantity supplied. B) a 1 percent change in price leads to a smaller percentage change in quantity supplied. C) the slope of the supply curve is positive. D) the good in question is a normal good.

Economics

Suppose that one-year Treasury bills yield 5 percent in the United States and 6 percent in France. Investors will prefer the U.S. securities if they expect the dollar to __________ against the euro over the next year

A) depreciate by less than 1 percent B) depreciate by more than 1 percent C) appreciate by less than 1 percent D) appreciate by more than 1 percent

Economics

The marginal product of labor indicates ________. Therefore the MPL curve is also ________

A) the quantity of labor supplied for a given wage; the equilibrium price of labor B) the quantity of labor demanded for a given wage; the equilibrium price of labor C) the quantity of labor demanded for a given wage; the demand curve of labor D) the quantity of labor supplied for a given wage; the supply curve of labor E) none of the above

Economics

The Social Security tax is a labor tax

a. True b. False Indicate whether the statement is true or false

Economics