A "social planner" is a fictional societal planner who would always choose the same outcome as the competitive market.
Answer the following statement true (T) or false (F)
False
Rationale: A social planner is an economist's fictional societal planner who tries to accomplish some goal and might, in some instances, mimic the market.
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The aspects of the society's rule that concern economic transactions are referred to as:
A) economic principles. B) economic institutions. C) financial regulations. D) economic ideals.
Refer to the above supply and demand graph for a public good. Line segment ad represents the amount at Q1 by which the:
A. marginal benefit of this public good is greater than the marginal cost. B. total benefit of this public good is greater than the total cost. C. marginal benefit of this public good is less than the marginal cost. D. total benefit of this public good is less than the total cost.
Two investments, X and Y, have beta values of 0.1 and 3.0 respectively. Based on this we can claim that, relative to the market portfolio:
A. both have more nondiversifiable risk than the market portfolio. B. both have less nondiversifiable risk than the market portfolio. C. X has more nondiversifiable risk and Y has less nondiversifiable risk than the market portfolio. D. X has less nondiversifiable risk and Y has more nondiversifiable risk than the market portfolio.
The difference between the present value of all benefits and the present value of all costs is the
A. "net present value" of an education. B. current market value of knowledge. C. external benefit from education. D. subjective rate of return on an education.