The marginal benefit of pollution abatement is the
A. additional cost to clean up an additional unit of pollution.
B. total social costs of pollution clean-up divided by total social benefits.
C. additional benefit from cleaning up an additional unit of pollution.
D. total social costs of pollution clean-up divided by the total units of clean-up.
Answer: C
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Explain how the decision by parents to not immunize their children, hoping that their children will not get sick because other parents have had their children immunized, is an example of free riding. How is this behavior dangerous to the public?
What will be an ideal response?
Which of the following statements is false?
a. Political activities consistent with economic efficiency tend to emerge naturally from the unconstrained democratic political process. b. Constitutional rules establishing procedures and limiting the ability of the political process to engage in redistributive activities can improve the economic efficiency of government. c. Rent-seeking activity tends to retard the economic prosperity of a nation because it takes resources away from productive private sector activities. d. Unconstrained democratic governments often enact special-interest programs that waste resources and impair the standard of living of a country.
Number of workersUnits of output00110230344455Table 8.1Refer to Table 8.1, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product of the fourth worker is:
A. 12 units. B. 11 units. C. 5 units. D. 0 units.
Suppose Belgium produces only two goods, chocolate and lace. If Belgium has a comparative advantage in lace, a move toward free trade will:
A. benefit chocolate workers, harm lace workers in the short run, but benefit the nation as a whole. B. harm chocolate workers in the short run, benefit lace workers, but benefit the nation as a whole. C. harm chocolate workers in the short run, harm lace workers, but benefit the nation as a whole. D. benefit chocolate workers, harm lace workers in the short run, but harm the nation as a whole.