The tables above show the marginal costs and benefits from production and consumption of paper. From this information we can see that there are
A) external costs of producing paper.
B) external benefits of producing paper.
C) no externalities in production of paper.
D) external costs from consuming paper.
A
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The widespread adoption of computers in the workplace has likely led to
A) an increase in labor productivity because computers are a capital good. B) a decrease in labor productivity because computers are a capital good. C) an increase in the supply of labor because people are needed to operate the computers. D) no change in the quantity of labor hours. E) a decrease in human capital because computers are physical capital.
If real GDP is less than potential GDP, then the ________ and the price level ________
A) aggregate demand curve shifts leftward; rises B) aggregate demand curve shifts rightward; falls C) aggregate supply curve shifts leftward; rises D) aggregate supply curve shifts rightward; falls E) amount of potential GDP increases; falls
Exhibit 7-18 A typical firm in a perfectly competitive market
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In Exhibit 7-18, assume the perfectly competitive firm is in long-run equilibrium and there is an increase in demand. As a result, the firm in the short run will increase output along its:
A. short-run average total cost curve B. B. short-run marginal cost curve B. C. long-run average cost curve. D. none of these because the firm shuts down.
________ in a bank is considered a liability of that bank.
A. A checking deposit B. Required reserves C. Excess reserves D. A bank loan