If your neighbors remove the weeds in their yard and this activity prevents weed seeds from blowing into your yard, the benefit you receive is a public good.
Answer the following statement true (T) or false (F)
False
If your neighbors remove the weeds in their yard and this activity prevents weed seeds from blowing into your yard, the benefit you receive is an externality.
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A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420A change from combination C to B means that
A. 8 cupcakes were given up to make 2 pies. B. 2 pies were given up to make 20 cupcakes. C. 8 cupcakes were given up to make 1 pie. D. 6 pies were given up to make 20 cupcakes.
Explain how gross investment, depreciation, net investment, and the capital stock are related
What will be an ideal response?
Comparative advantage is based on opportunity costs
a. True b. False
Economic rent is the amount of money that _________________________________.
Fill in the blank(s) with the appropriate word(s).