Marginal social cost includes what types of costs imposed on society?
a. total cost and marginal cost
b. marginal resource cost and average total cost
c. marginal external cost and marginal private cost
d. marginal fixed cost and marginal variable cost
c
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The following are all final goods EXCEPT
A) flour used by the baker to make cupcakes. B) bread eaten by a family for lunch. C) pencils used by a 6th grader in class. D) Nike shoes used by a basketball player. E) a computer used by Intel to design new computer chips.
Which of the following statements is (are) correct? In the insider/outsider model there is
a. unemployment due to the real wage being set above the market clearing level. b. cyclical unemployment in response to changes in aggregate demand. c. structural unemployment in response to hysteresis. d. Both a and b e. all of the above
Most spells of unemployment are short, and most unemployment observed at any given time is long-term
a. True b. False Indicate whether the statement is true or false
Faced with an adverse supply shock, if the central bank wants to stabilize output, it should
A. decrease the money supply. B. increase the money supply. C. decrease government spending. D. increase government spending.