Refer to the table and information below. What is the net benefit of project 2?
A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits of each project are given in the table.
A. $2 million
B. $3 million
C. $4 million
D. $5 million
D. $5 million
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The main reason economists are concerned about the problem of idle or unemployed resources is that: a. high rates of crime are related to high rates of unemployment
b. high rates of inflation are caused by idle land, labor, and capital resources. c. government benefits paid to unemployed workers put stress on the federal budget. d. unemployed resources mean less production and a lower standard of living for the nation.
Government revenue from a tariff is equal to the amount of the tariff times the quantity imported
a. True b. False Indicate whether the statement is true or false
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
A high Herfindahl-Hirshman Index indicates that an industry ______.
a. has a large number of firms b. is an oligopoly c. has perfect competition d. is competitive