Total costs in the table are:Control variableTotal BenefitsTotal CostsNet BenefitsMarginal BenefitMarginal CostMarginal Net BenefitQB(Q)C(Q)N(Q)MB(Q)MC(Q)MNB(Q)0000---190010080090010080021,700300C80020060032,4006001,800700E4004A1,0002,00060040020053,5001,5002,000500500F63,9002,1001,800D600-20074,2002,8001,400300700-40084,400B800200800-60094,5004,5000100900-800104,5005,500-1,00001,000-1,000
A. decreasing at a constant rate.
B. increasing at an increasing rate.
C. increasing at a constant rate.
D. decreasing at a decreasing rate.
Answer: B
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Consider the market for turkeys. In the United States, because of Thanksgiving in the month of November,
A) there is a downward movement along the demand curve for turkeys. B) there is an upward movement along the supply curve for turkeys. C) the supply curve of turkeys shifts leftward. D) the demand curve for turkeys shifts leftward. E) neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
If the United States ran large budget deficits that push the federal debt to dangerously high levels, which of the following would be most likely to occur?
a. An increase in investor confidence, an inflow of capital, and expansion in the size of the trade deficit. b. Loss of investor confidence, a decline in the net inflow of capital, and shrinkage in the trade deficit. c. An increase in the attractiveness of investments in the United States, an increase in the inflow of capital, and a smaller trade deficit. d. An increase in the long-term growth rate of the U.S. economy.
The housing shortages caused by rent control are larger in the long run than in the short run because both the supply of housing and the demand for housing are more elastic in the long run
a. True b. False Indicate whether the statement is true or false
Related to the Economics in Practice on p. 476: According to the "paradox of thrift," decreased efforts to save will cause a(n)
A. decrease in income but an increase in saving. B. decrease in income and an overall decrease in saving. C. increase in income but no overall change in saving. D. increase in income and an increase in overall saving.