The above table shows production points on Sweet-Tooth Land's production possibilities frontier. A movement from ________ represents the greatest opportunity cost of increasing cola production
A) point E to point D
B) point D to point C
C) point C to point B
D) point B to point A
D
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Which of the following creates an incentive to increase the amount of an activity?
A) an increase in the marginal cost of the activity and a decrease in the marginal benefit of the activity B) a decrease in the marginal cost of the activity and an increase in the marginal benefit of the activity C) constant marginal cost and constant marginal benefit of the activity D) None of the above create an incentive to increase the amount of an activity.
The price of gasoline in Europe is about three times that in the United States, mainly because the European gas tax is higher than the U.S. gas tax
How would an increase in the gas tax in the United States to the European level change carbon emissions? Would this tax increase bring greater efficiency or would it increase deadweight loss?
The Lorenz curve portrays:
A. the functional distribution of income. B. the ratio of labor to capitalist income. C. the personal distribution of income. D. income equality.
When an economy sacrifices production of consumption goods to produce more capital goods, we would expect that the production possibilities curve will
A) shift outward. B) shift inward. C) become a straight line. D) shift about in random fashion.