In the figure above, which of the following points indicates the efficient use of resources?
A) a B) f C) g D) h
A) a
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If, for the United States, exports are $450, imports are $320, net income from foreign investments is -$60, and net transfers from abroad is -$50, then the U.S. current account has a
A) deficit of $430. B) deficit of $110. C) surplus of $20. D) surplus of $130.
The debt-to-GDP ratio increases when the primary deficit ________ or when seigniorage ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Basic research is conducted primarily by manufacturing industries
a. True b. False Indicate whether the statement is true or false
Which of the following statements is not true?
a. If marginal social cost and marginal private cost are the same, any externality that exists will be positive. b. If marginal externality costs are not zero, externalities exist. c. An expansion of property rights to include air quality and scenic beauty would bring some private markets close to a socially optimal equilibrium. d. The existence of pollution as the byproduct of a production or exchange process indicates a market failure. e. When municipal water supplies have heavy concentration of agricultural chemicals, it is probable that agricultural output from the area is produced in quantities greater than the socially optimal level.