The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The marginal external cost when 100 billion kilowatt hours are produced is
A) 0¢ per kilowatt.
B) 5¢ per kilowatt.
C) 10¢ per kilowatt.
D) 15¢ per kilowatt.
E) 20¢ per kilowatt.
B
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An decrease in domestic savings
a. decreases foreign borrowing. b. will improve the trade balance. c. will increase exports. d. will increase foreign borrowing.
Economists often say that trade is a win-win situation. How do you justify this?
The wealthiest 10 percent of the population owns about
A) 15 percent of all the wealth in the United States. B) 50 percent of all the wealth in the United States. C) 75 percent of all the wealth in the United States. D) 95 percent of all the wealth in the United States.
A permanent increase in the real wage rate has a ________ income effect on labor supply than a temporary increase in the real wage, so labor supply is ________ with a permanent wage increase than for a temporary wage increase.
A. smaller; more B. larger; more C. larger; less D. smaller; less