If the social benefit is greater than the private benefit in a particular market, then the private equilibrium will be at a quantity:
A. equal to the socially optimal level.
B. greater than or less than the socially optimum level, depending on the size of the external costs.
C. greater than the socially optimal level.
D. less than the socially optimal level.
Answer: D
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Answer the following statement true (T) or false (F)
If crime rates in the United States fall, can incumbent lawmakers rightfully claim credit? Why or why not?
What will be an ideal response?
Since the 1970s, the incidence of obesity has risen from 15% of the U.S. population to
a. 20%. b. 25%. c. 30%. d. 35%. e. 50%. 12.Part of the cause of obesity is that food is cheaper; when something is cheaper a. The demand curve slopes upward. b. The demand curve slopes downward. c. Consumers demand more d. Consumers demand less e. Both b and c are correct.
Total spending on final goods and services in an economy must equal total:
A. investment. B. revenues from all transactions. C. profits. D. production value.