According to the Cost-Benefit Principle, you should go see the latest Star Wars movie with your friends this weekend if:
A. the extra benefits of seeing the movie are greater than the extra costs of seeing the movie.
B. you really like Star Wars.
C. the average benefit you get from going to the movies is greater than the average cost of a ticket.
D. you can afford to go to the movies.
Answer: A
You might also like to view...
Last year, the nominal interest rate was less than the anticipated rate of inflation
A) This means that not enough loans were made by banks. B) This means that the real interest rate was negative. C) This means that the real interest rate was very high. D) This scenario is not possible.
The term equilibrium refers to the point where:
A. quantity supplied equals quantity demanded. B. buyers and sellers "agree" on the quantity of a good they are willing to exchange at all prices. C. the supply curve and demand curve do not intersect. D. every buyer and seller achieves their best possible outcome.
In 1990, U.S. nominal GDP was $5,744 billion and the GDP chain price index is 93.6 . Real GDP is:
a. $6,137 billion. b. $5,376 billion. c. $6,000 billion. d. $6,376 billion.
USX, a steel company, reduced the number of man-hours required to produce a ton of steel from 10.8 in 1982 to 3.8 in 1990, thereby eliminating 55,000 jobs. Technically, this rise in productivity means the
a. marginal product of labor increased. b. average product of labor increased. c. average product of capital fell. d. marginal product of capital fell.