Considering the data in the table shown above and 2010 as the base year, what is the inflation rate between years 2010 and 2015?
A) 0.0 percent
B) 41.7 percent
C) 17.1 percent
D) 3.4 percent
B
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A firm is generating detrimental externalities when
A. MSC is less than MPC. B. MSC is the same as MPC. C. MSC is greater than MPC. D. MPC includes some incidental costs.
To affect the market outcome, a price floor
A) must be set above the price ceiling. B) must be set above the legal price. C) must be set above the black market price. D) must be set above the equilibrium price.
The absolute value of the slope of the production possibilities frontier at the production point provides a measure of both the relative price of S in terms of T and the opportunity cost of producing one more units of S calculated in terms of output
of T foregone. Indicate whether the statement is true or false
In the model of public goods
A) government spending is pure waste B) private consumption and government spending are equal. C) consumers benefit from private goods and public goods. D) the government provides goods at no cost to the public.