Which of the following best describes social costs?
a. The external costs borne by other members of society, ignoring the private costs to market participants.
b. The sum of external costs and private costs.
c. External costs minus private costs.
d. Private costs minus external costs.
b
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How does a network externality serve as a barrier to entry? Is this barrier surmountable? Explain
What will be an ideal response?
The World Bank was created to help finance economic development in poor countries
a. True b. False Indicate whether the statement is true or false
If the economy is represented in the graph shown and is currently at point E2, what could be said about the state of the economy?
A. There is higher unemployment than the natural rate.
B. There is lower unemployment than the natural rate.
C. The unemployment rate is just about the natural rate.
D. The unemployment rate is zero.
Mr. Forbes pays $35,000,000 in federal income tax. How much is his marginal tax rate?
What will be an ideal response?