In the presence of no externalities
A) social marginal cost exceeds private marginal cost.
B) social marginal cost is less than private marginal cost.
C) social marginal cost equals private marginal cost.
D) social marginal cost and private marginal cost cannot be compared.
C
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Wages paid to teachers, police personnel, and postal workers are not transfer payments because they are payments for services and not simply "transfers" of money
Indicate whether the statement is true or false
Which of these curves shows a more unequal distribution of income?
a. Curve A b. Curve B c .Curve C
_________ is the value, worth, applicability, productiveness or usefulness of a resource
a. Utility b. Marketability c. Credit d. Cache
Which of the following is not a component of the aggregate expenditures of a country?
a. Investment b. Government spending c. Net exports d. Consumption e. Transfer payments