A social cost that is not fully paid by the individual using an automobile is
A) traffic congestion.
B) gasoline and oil.
C) insurance.
D) depreciation of the vehicle.
A
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The early U.S. canals and railroads were built by private enterprise without the aid of governments
Indicate whether the statement is true or false
Specialization and the division of labor typically result in
A) cost overruns. B) increased output. C) decreased output. D) a greater reliance upon imports.
Jason gets paid monthly and pays for everything with cash. When he cashes his check he keeps $200 for food, $100 for utilities, $900 for rent, $50 for transportation, $100 for entertainment and $400 for unexpected expenditures. Which of the following statements is TRUE?
A. The transactions demand for money is $450, the precautionary demand is $400 and the asset demand is $900. B. The transactions demand for money is $350, the precautionary demand is $1,150 and the asset demand is $150. C. The transactions demand for money is $1,350, the precautionary demand is $400 and the asset demand is $0. D. The transactions demand for money is $350, the precautionary demand is $950 and the asset demand is $0.
The marginal cost curve of a firm above AVC is also its short-run supply curve.
Answer the following statement true (T) or false (F)