The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture
A quota to prevent the overuse of the common pasture sets the number of goats to be raised equal to ________. A) 0 goats
B) 40 goats
C) 50 goats
D) 55 goats
B
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Which of the following statements is true?
A) The growth rate of South Korea has been less than the growth rate of the United States over the last 40 years. B) The United States and the United Kingdom have recorded a growth rate of over 10% per annum in the last 40 years. C) The gap between the GDP per capita of the United States and Singapore has increased over the last 40 years. D) The gap between the GDP per capita of the United States and China has decreased over the last 40 years.
The opportunity costs of labor is largely determined by
A) demand. B) supply. C) need. D) greed.
Refer to Table 25-3. Consider the above simplified balance sheet for a bank. If the required reserve ratio is 10 percent, the bank can make a maximum loan of
A) $2,000. B) $5,000. C) $6,300. D) $45,000.
If the MPC is 0.9, and the government cuts spending by $200b, the overall effect on GDP will be:
A. an increase of $2,000b. B. an increase of $180b. C. a decrease of $1,800b. D. a decrease of $2,000b.