Wage disparities among countries may result from open border policies
Indicate whether the statement is true or false
F
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The table above shows the total utility from the two goods Freddy likes to consume. Suppose that Freddy has already eaten 5 bags of Fritos. If he consumes one more bag, his marginal utility will
A) equal 40. B) equal 35. C) equal 15. D) depend on the price of the extra bag.
A firm's total variable cost (TVC) is defined as a cost that
A) does not change (is not "variable") as the firm changes its output. B) changes as the firm changes its output. C) falls as the firm increases its output. D) varies only when the firm reaches the long run.
The tables above show the marginal costs and benefits from production and consumption of paper. From this information we can see that there are
A) external costs of producing paper. B) external benefits of producing paper. C) no externalities in production of paper. D) external costs from consuming paper.
The too-big-to-fail policy
A) reduces moral hazard problems. B) puts large banks at a competitive disadvantage in attracting large deposits. C) treats large depositors of small banks inequitably when compared to depositors of large banks. D) allows small banks to take on more risk than large banks.