Mark Zuckerberg believes everyone in the world should have Internet access
A) This is a positive statement and is not in the social interest if the marginal benefit of Internet access exceeds the marginal cost.
B) This is a positive statement and is not in the social interest if the marginal cost of Internet access exceeds the marginal benefit.
C) This is a normative statement and is not in the social interest if the marginal benefit of Internet access exceeds the marginal cost.
D) This is a normative statement and is not in the social interest if the marginal cost of Internet access exceeds the marginal benefit.
D
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The above figure shows the PPF for a country that produces computers and computer factories. The nation's production possibilities frontier is PPF0 . At which of the following production points would the economy grow most rapidly?
A) Point A B) Point B C) Point C D) It makes no difference among the three points because they are all production efficient. E) More information is needed to answer the question.
Suppose the Federal Reserve buys $50 million worth of securities from a commercial bank. As a result, the monetary base ________, and the quantity of money will ________ $50 million due to the ________
A) increases; increase by more than; money multiplier B) decreases; decrease by more than; money multiplier C) increases; increase by more than; expenditure multiplier D) decreases; decrease by less than; expenditure multiplier E) increases; decrease by; currency drain
The more available substitutes there are for a good, the
a. larger the number of consumers b. smaller the number of consumers c. smaller the supply side response d. more elastic the demand for that good e. less elastic the demand for that good
Between 1910 and today, the number of farmers in the United States _____________ dramatically as a result of ___________________ in farming in the twentieth century
A) dropped; technological improvements B) rose; technological improvements C) dropped; technological declines D) rose; technological declines