Suppose you eat two hamburgers for lunch. The marginal benefit of the first burger is ________ of the second burger
A) larger than the marginal benefit
B) not related to the marginal benefit
C) smaller than the marginal benefit
D) equal to the marginal cost and the marginal benefit
E) equal to the marginal benefit
A
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Mexico City is notorious for its excessive pollution. Mexico's measure of GDP is
A) increased by the estimated value of the pollution's harm. B) not affected by the estimated value of the pollution's harm. C) changed by the pollution only when comparing its GDP with the U.S. GDP. D) decreased by the estimated value of the pollution's harm. E) None of the above answers is correct.
Which of the following best describes a typical business cycle?
A) Economic expansions are followed by economic contractions. B) Inflation is followed by unemployment. C) Trade surpluses are followed by trade deficits. D) Stagflation is followed by inflationary economic growth.
Suppliers often reduce prices because they
a. have a shortage of products to sell b. have a surplus of products to sell c. want to decrease consumer demand d. want to reduce profits and go out of business
Under the Sullivan Principles, a multinational producing in different countries
A) should pay the same wages in all countries. B) should comply with the same environmental standards that exist in the home country. C) should lobby for better standards in all countries. D) should produce in pollution havens.