Refer to the table below. The marginal cost of the 3rd unit of this activity is:Units ofActivity TotalCostTotalBenefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. $30
B. $10
C. $20
D. $25
Answer: C
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One of the largest categories of exports from the United States is now pop culture: movies, music, TV programming, and videos. A direct conclusion from this information is that, compared to other countries, the United States has
A) lower wages for producers of pop culture. B) higher wages for producers of pop culture. C) a higher opportunity cost of producing pop culture. D) a lower opportunity cost of producing pop culture.
What are the key differences among public production, private subsidies, and vouchers?
What will be an ideal response?
To be effective, countercyclical fiscal policy must be temporary
a. True b. False
Which of the following statements best captures the concept of consumer surplus?
A. "I was willing to pay $30 for a dozen roses, but I bought them for $20." B. "I paid $35 for roses last week and just saw them for sale now at $25." C. "I was willing to pay $30 for roses, but they are selling for $35, so I did not buy." D. "I saw a sale for flowers, so I bought four bundles."