If a person does NOT pay all costs associated with a particular resource-using activity, then
A) the external costs of the activity are greater than the private costs of the activity.
B) the social costs of the activity are greater than the private costs of the activity.
C) the external costs of the activity are greater than the internal costs of the activity.
D) the full costs of the activity are the sum of private costs plus internal costs.
Answer: B
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The unemployment rate is interpreted as the percentage of the
A. able-bodied population who are not working. B. labor force that are not employed. C. workforce that have been laid off. D. adult population who are unemployed.
Only a few countries have followed outward-oriented development strategies for extensive periods of time. Which of the following countries is not one of those that have followed such a strategy successfully in the last decades
A) Russia B) Japan C) South Korea D) Singapore
Refer to the table below. If the discount rate is 6 percent and the cost of the investment is $45,000, what is the net present value of the investment?
The above table shows the future operating profits from an investment. The future operating profits are earned at the end of each of the respective years.
A) -$1,074.48
B) $1,100.56
C) $43,925.52
D) -$44,852.36
A natural monopoly usually arises when
A) there are diseconomies of scale in an industry. B) the government allows unrestricted access to a market. C) there are large economies of scale relative to the industry's demand. D) companies band together to form a larger company.