Refer to the above graph. A decrease in supply would best be reflected by a change from:

Point 2 to point 1
Point 3 to point 6
Point 5 to point 2
Point 5 to point 1

Point 2 to point 1

Economics

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Exhibit 30-2

?

A. Curve X, because if there is a positive externality, negative external benefits are associated with it: social costs external benefits - private benefits, therefore the marginal social benefit curve must lie below the marginal private benefit curve. B. Curve X, because if there is a positive externality, external benefits are associated with it: social benefits = external benefits + private benefits, therefore the marginal social benefit curve must lie below the marginal private benefit curve. C. Curve Y, because if there is a positive externality, external costs are associated with it: social benefits = external costs + private benefits, therefore the marginal social benefit curve must lie above the marginal private benefit cost curve. D. Curve Y, because if there is a positive externality, external benefits are associated with it: social benefits = external benefits + private benefits, therefore the marginal social benefit curve must lie above the marginal private benefit curve.

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Economics

The Bureau of Labor Statistics' U-3 measure of joblessness is the official unemployment rate

a. True b. False Indicate whether the statement is true or false

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Economics

An example of a renewable resource would be:

A. oxygen. B. trees. C. fish in the ocean. D. All of these are examples of renewable resources.

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Economics

Where MPC is the marginal propensity to consume, the formula for the spending multiplier is

What will be an ideal response?

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Economics