Which of the following is a likely consequence of a fall in private investment?
A) Mortgage defaults fall. B) Asset prices rise.
C) Labor supply falls. D) Consumption falls.
D
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Refer to Figure 5-4. Why is there a deadweight loss?
A) because the marginal social cost of producing each additional unit in excess of Q2 exceeds the marginal benefit B) because the marginal social benefit of producing each additional unit in excess of Q2 exceeds the private cost C) because the marginal private cost of producing each additional unit in excess of Q2 exceeds the marginal benefit D) because the marginal private benefit of producing each additional unit in excess of Q2 exceeds the social cost
In a small country, the net national cost of tariff protection is equal to the reduction in consumer surplus minus
A) the gain to foreigners. B) the increase in government revenue and the increase in producer surplus. C) the increase in government revenue. D) the increase in producer surplus. E) the efficiency loss and the consumption side loss.
Hiring Tech Support Collin County Community College (CCCC) has an ongoing problem that the electronic equipment in their classrooms and computer labs keeps malfunctioning and the repairs that are made seem to cause problems with some other aspect of the
equipment. Due to its bureaucratic structure, CCCC has a hiring preference for their own students and it is only allowed to pay $15 per hour when the going rate is closer to $18 per hour. How does this contribute to CCCC's equipment problems?
Goods with upward sloping demand curves are referred to as
A) Marshall goods. B) Giffen goods. C) substitute goods. D) luxury goods.