Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. The ________ imposed as a result of producing cars is $10.00 per car.
A. marginal private cost
B. marginal social cost
C. marginal damage cost
D. total cost
Answer: C
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The amount of foreign aid provided by the United States ________
A) constitutes a major proportion of federal government outlays B) is the highest in percentage terms for any developed market economy C) averages about 2.7 percent of U.S. income per year D) is a very small percentage of gross national income
In a tit-for-tat strategy, a player
A) randomly punishes its rival. B) ensures that the joint profit is maximized in each round. C) copies the action of its rival's prior move in the subsequent rounds. D) maximizes the joint profit in the game.
The price elasticity of demand for eggs is -.27 and the price elasticity of demand for soft drinks is -.70. Therefore, the demand for eggs
A. cannot be compared to the demand for soft drinks because eggs cannot be substituted for soft drinks. B. is more elastic. C. cannot be compared to the demand for soft drinks because both are negative. D. is less elastic.
The proportionate difference between the current forward exchange-rate value of a currency and its current spot value is the ________ premium.
A. investment B. currency-option C. frequent exchanger D. forward