An efficient economy
a. is a fair economy
b. can only be a capitalist economy
c. is not necessarily a fair economy
d. would never experience air or water pollution
e. would not have a government sector
C
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An increase in the expected future domestic exchange rate causes the demand for domestic assets to ________ and the domestic currency to ________, everything else held constant
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
Given two economic systems, A and B, if economy A has a absolute advantage in the production of widgets, then
A) fewer inputs are necessary to produce widgets in economy A than in economy B. B) economy A must give up less of all other goods to produce widgets than economy B. C) economy A is less efficient in the production of widgets than economy B. D) economy A would not benefit from the specialization of production.
Suppose that the government goes into deficit in order to help local school districts build better schools. Does this burden future generations?
A government is considering undertaking one or more construction projects. The estimated marginal cost and benefit of each project are given in the table.ProjectMarginal Cost ($M)Marginal Benefit ($M)1$8$11211133181742823Refer to the above table and information. What is the total cost and total benefit of projects 1, 2, and 3?
A. Total cost is $37 million and total benefit is $41 million. B. Total cost is $24 million and total benefit is $27 million. C. Total cost is $65 million and total benefit is $66 million. D. Total cost is $18 million and total benefit is $19 million.