Refer to the table and information below. What is the total cost and total benefit of projects 1, 2, and 3?
A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits of each project are given in the table.
A. Total cost is $18 million and total benefit is $19 million
B. Total cost is $24 million and total benefit is $27 million
C. Total cost is $37 million and total benefit is $41 million
D. Total cost is $65 million and total benefit is $66 million
C. Total cost is $37 million and total benefit is $41 million
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Refer to Figure 2-8. Suppose Vidalia is currently producing 20 dozen orchids per period. How many roses is it also producing, assuming that resources are fully utilized?
A) 30 dozen roses B) 50 dozen roses C) 100 dozen roses D) 150 dozen roses
In which of the following periods was the yield curve inverted?
A) February 2004 B) February 2007 C) February 2010 D) The yield curve was not inverted during any of these periods.
Which of the following is responsible for holding bank reserves?
A. The Federal Reserve Board of Governors. B. The 12 regional Federal Reserve banks. C. The Executive Branch of government. D. The Fed chairman.
Which of the following may lead to diseconomies of scale?
a. Specialization on the basis of comparative advantage b. Lack of coordination among the division heads c. Using larger and more efficient machineries d. Division of labor on the basis of capability e. Specialization of marketing, pricing, and research