Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of coconuts in Costa Rica?
A) 3/8 of a ton of pineapples B) 2/3 of a ton of pineapples
C) 1 1/2 tons of pineapples D) 100 tons of pineapples
B
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A change in regulations increases the size of the airplanes that can fly into a local regional airport. The increase in average plane size increases noise pollution considerably
If compensation is to be paid to those harmed by this externality, the most efficient form of compensation would be _____. a. a lump sum payment b. a payment per violation c. a set payment every month d. regular payments equal to the monthly cost imposed on homeowners
Fiscal policy is
A) the selling of government bonds by the Treasury. B) the deliberate manipulation of the money supply designed to affect the interest rate. C) the deliberate manipulation of taxation and spending designed to affect the economy. D) the selling of foreign exchange reserves designed to change the exchange rate.
Which of the following is necessary for a monopolist to price discriminate between groups?
A) The groups are identifiable. B) The groups have different willingness to pay. C) A customer from one group cannot resell to a customer in another group. D) All of the above conditions are necessary for the monopolist to price discriminate.
Whether or not policymakers should try to make our society more egalitarian is largely a matter of
a. economic efficiency. b. political philosophy. c. egalitarian principles. d. enhanced opportunity.