The problem of the commons arises because ________ exceeds ________ when the resource is used
A) marginal social cost; marginal private cost
B) marginal private benefit; marginal social benefit
C) marginal private benefit; marginal private cost
D) marginal private cost; marginal social cost
A
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In the loanable funds framework, the ________ curve of bonds is equivalent to the ________ curve of loanable funds
A) demand; demand B) demand; supply C) supply; supply D) supply; equilibrium
In a Mexican factory, each worker can produce 1/8 of a vase or 1/16 of a statue per hour. If there are 400 workers at the factory, the opportunity cost of one statue is
a. 1/2 of a vase b. 1/8 of a vase c. 8 vases d. 16 vases e. 2 vases
If the interest rate is 10 percent, the net present value of $600 to be received two years from now is
a. $495.87. b. $545.45. c. $600. d. $660.
Core CPI is a price index that only looks at the prices of food and energy and ignores the prices of all other goods and services
a. True b. False Indicate whether the statement is true or false