Referring to Table 4.2, Box M should be filled with 
A. $10.
B. $20.
C. $0.
D. undefined.
Answer: D
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The branch of economic theory that analyzes decisions about education and training is
A. welfare economics. B. equilibrium analysis. C. human capital theory. D. consumption theory.
Which statement is true about the perfect competitor in the short run?
A. He may make a profit, but he won't take a loss. B. He may take a loss, but he won't make a profit. C. He will break-even. D. None of the statements are true.
A citizen of Mexico who has lived in El Paso during the past three years has just sent $100 to relatives in Mexico for Christmas. This transaction is
A) counted in the U.S. balance of payments as a current account item. B) counted in the U.S. balance of payments as a surplus item. C) counted in the U.S. balance of payments as an export item. D) none of the above.
Which of the following goods is more likely to be excludable?
A) a chocolate bar B) a concert at Times Square C) national defense D) ocean breeze