The social cost associated with the distortion in consumption from a monopoly price is called
A. marginal cost.
B. deadweight loss.
C. patent protection.
D. government failure.
Answer: B
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As the price level ________, the purchasing power of money ________
A) decreases; stays the same B) increases; decreases C) decreases; decreases D) increases; increases
In a steady-state economy with no population growth, capital per worker is 86, the saving rate is 25 percent, and the depreciation rate is 11 percent. The level of output per worker is ________
A) 195 B) 38 C) 35 D) 47
What role does population growth play in economic development?
What will be an ideal response?
Banks are considered a safer place to deposit money now than they were prior to 1933 because: a. gold reserves have increased
b. reserve requirements are higher. c. they are more closely regulated. d. the FDIC was created.