Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. What is the marginal benefit to society from the third satellite?
A) $30
B) $27
C) $54
D) $6
C
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If the stock of physical capital (that is machinery, equipment, etc.) and human capital remains the same and the population increases, then
A) labor productivity will increase. B) labor productivity will decrease. C) real GDP decreases. D) the new labor will be more productive. E) the standard of living will increase.
A long put position
A) has a value of zero if the stock price is below the exercise price. B) has a value equal to the stock price minus the exercise price if the stock price is above the exercise price. C) has a value of zero if the stock price at the time of purchase exceeds the expected stock price at option expiration. D) has a value equal to the exercise price minus the stock price if the stock price is below the exercise price.
Decisions about how to allocate resources are made by:
A. individuals. B. businesses. C. governments. D. Decision about resource allocation are made by all of the above
During which period did the United States experience a trade surplus on goods and services?
a. 1970–1979
b. 1980–1989
c. 1990–1999
d. 2000–2009