The total social cost of production is equal to
A) external cost minus internal cost.
B) internal cost minus external cost.
C) external cost plus internal cost.
D) internal cost plus opportunity cost.
C
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The value of an investment in an index fund depends on
A. the earnings estimate for the major index constituent. B. the average performance of all mutual funds. C. what happens to the prices of all stocks in that index. D. the specific stock selection practices employed by the fund manager.
The Land Ordinances of 1785 and 1787 accomplished which of the following?
(a) Established the foundation for future American capitalism by permitting land to pass into private hands (b) Allowed the practice of primogeniture or inheritance by the oldest son (c) Permitted land to be treated primarily as a "collective good" (d) Provided for a lateral expansion of American socialism
While the debate between output and the environment is subjective, all countries should aim to be where on the production possibility frontier?
a. Inside the PPF with allocative efficiency b. Outside the PPF with allocative efficiency c. Inside the PPF with productive efficiency d. On the PPF with productive efficiency
John Maynard Keynes believed that the equilibrium level of national income is primarily determined by aggregate expenditures
Indicate whether the statement is true or false