Which statement is true?
A. M1 is money, but not M2.
B. M2 is money, but not M1.
C. Both M1 and M2 are money.
D. Neither M1 nor M2 is money.
A. M1 is money, but not M2.
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When Sam's Scarves uses 2 knitting machines and employs 3 people, total revenue is $330 a day. When Sam's Scarves uses 2 knitting machines and employs 4 people, total revenue is $360 a day
The value of marginal product of the third worker is ________. A) $110 B) $30 C) $360 D) $90
According to Keynes, a pessimistic outlook causes consumers and businesspersons to ____, and a recession could occur
a. increase planned investment b. decrease planned spending c. increase exports d. decrease imports e. decrease saving
Suppose the cost to erect a tornado siren in a small town is $15,000 . In addition, suppose the value of a human life is $10 million. By what percentage would the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren?
a. By at least 0.015 percentage points. b. By at least 0.15 percentage points. c. By at least 1.5 percentage points. d. By at least 5 percentage points.
Government often finds it difficult to cope with externalities because
A. costs and benefits are difficult to assess in monetary terms. B. taxes and subsidies are ineffective in equating MSC and MSB. C. government has no authority to impose fines for air and water pollution. D. marginal private cost curves cannot be shifted.