In the figure above, what is the marginal social benefit of the 3,000,000th CD per month?
A) $11.00 per CD
B) $8.00 per CD
C) $6.00 per CD
D) None of the above answers is correct.
A
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All of the following are characteristics of a chicken game except
A) each player has a tough strategy and a weak strategy. B) coordination occurs when both players either play their tough strategies or both players play their weak strategies. C) each player prefers the Nash equilibrium corresponding to his or her tough strategy. D) each player prefers a different Nash equilibrium.
If the price of a euro (the European currency) increases from $1.00 to $1.10, then, everything else held constant
A) a European vacation becomes less expensive. B) a European vacation becomes more expensive. C) the cost of a European vacation is not affected. D) foreign travel becomes impossible.
Comparing how many dollars it takes to attend college each year to annual earnings on a job represents the use of money as a:
a. medium of exchange. b. unit of account. c. store of value. d. store of coincidence.
Suppose that an economy's labor productivity and total worker-hours each grew by 3 percent between year 1 and year 2. We could conclude that this economy's:
A. real GDP remained constant. B. capital stock increased by 3 percent. C. production possibilities curve shifted inward. D. production possibilities curve shifted outward.