Which would be the most accurate statement?
A. No one enjoys a consumer surplus.
B. We enjoy a consumer surplus on many goods and services.
C. We enjoy a consumer surplus on all goods and services.
B. We enjoy a consumer surplus on many goods and services.
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The cost-benefit analysis on the financial impact smokers have on society conducted by Vanderbilt professor Kip Viscusi concludes that
A) smokers provide a net public service to society. B) smokers are a financial drain on society. C) smokers contribute less to retirement and pension programs than they receive from those programs. D) smokers account for about 32 cents of net cost to everyone else in society for every pack of cigarettes smoked.
A measure that economists use in order to keep track of employment is
a. the price level b. real GDP per person c. real GDP d. the growth rate of output e. the unemployment rate
Which of the following is a distinguishing feature of a natural monopoly?
a. A rising average total cost curve b. A declining average total cost curve c. A declining marginal cost curve d. A vertical average total cost curve
A U.S. individual buys shares in a Swiss company. This transaction will be entered as
A. a credit in the U.S. capital account. B. a debit in the U.S. current account. C. a debit in the U.S. capital account. D. a credit in the U.S. current account.