Social cost is
a. private cost minus external cost
b. the same as external cost
c. the same as production cost
d. private cost divided by external cost
e. private cost plus external cost
E
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Which of the following is an example of gross investment?
A. Electric Car Incorporated increases the number of cars on its lots. B. The Black Coal Company sells $5 million of coal to Germany. C. Fred buys a new television set to watch the Super Bowl. D. The navy purchases a new ship for its fleet.
Which one of the following statements is the MOST accurate?
A) Given PUS, when the money supply rises, the dollar interest rate declines and the dollar depreciates against the euro. B) Given YUS, when the money supply rises, the dollar interest rate declines and the dollar depreciates against the euro. C) Given PUS and YUS, when the money supply decreases, the dollar interest rate declines and the dollar depreciates against the euro. D) Given PUS and YUS, when the money supply rises, the dollar interest rate declines and the dollar appreciates against the euro. E) Given PUS and YUS, when the money supply rises, the dollar interest rate declines and the dollar depreciates against the euro.
To function as money, something must hold its purchasing power over time. That is, it must be a
A) store of value. B) standard of deferred payment. C) unit of accounting. D) medium of exchange.
The labor supply curve:
A. is made up of firms who want to hire workers at each given wage. B. is made up of workers who want to work for firms at each given wage. C. shows number of firms who are willing and able to hire workers at each given wage. D. shows that the number of firms who want to hire workers decreases as the wage increases.