If the marginal benefit of the next slice of pizza exceeds the marginal cost, you will
A) eat the slice of pizza.
B) not eat the slice of pizza.
C) be unable to choose between eating or not eating.
D) eat half the slice.
E) More information is needed about how much the marginal benefit exceeds the marginal cost to determine if you will or will not eat the slice.
A
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The table above gives some of the balance of payments accounts of the United States in 2017
a. What is the current account balance? b. What is the capital and financial account balance? c. What is the official settlements account balance?
Suppose Clem's Chemical Company wants to increase its total revenue. If there are few substitutes for Clem's Chemicals
A) Clem should increase the price of his chemicals. B) Clem should decrease the price of his chemicals. C) the demand for chemicals is elastic. D) Clem will not be able to change the price of his chemicals.
During the Great Depression, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment
A) could have increased or decreased the natural rate of unemployment. B) decreased the natural rate of unemployment. C) increased the natural rate of unemployment. D) had no effect on the natural rate of unemployment.
Rent control is an example of a price ceiling. Which of the following problems must be addressed under a rent control program?
a. what to do with the surplus of rental units b. how to subsidize renters so that they can afford to pay the higher rents c. how to decrease the quantity of rental units to the equilibrium level d. whether the opportunity cost of rental units equals the competitive market price e. how to allocate scarce rental units