The marginal social cost is the cost of producing an additional unit of a good or service that falls on people other than the producer of the good or service
Indicate whether the statement is true or false
FALSE
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Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25 and that a student's beverage budget is $20 per week. What is the most cups of tea the student could buy?
a. 20 b. 16 c. 10 d. 8
Congress is debating whether to raise taxes by $100 billion or decrease spending by $100 billion in order to eliminate a budget deficit. Which action will have the larger effect on equilibrium GDP?
a. the increase in taxes b. the decrease in spending c. the effects will be equal d. not possible to determine without knowing the multiplier
In Alpha the lowest 20 percent of families receive approximately what percentage of income? (See Figure 33.1)
A. 5 percent. B. 20 percent. C. 10 percent. D. 80 percent.
which of the following best summarizes the importance of business failure and the central idea of "creative destruction in a market economy?"
What will be an ideal response?