Refer to the data. Personal consumption expenditures:
A. cannot be calculated.
B. are $231.
C. are $225.
D. are $205.
A. cannot be calculated.
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Attending college is a case where the ________________ exceeds the monetary cost.
A. budget constraint B. marginal analysis C. opportunity cost D. marginal utility
The US Navy determines that the navigation system on its submarines, which use low-frequency radio waves, is reducing the population of humpback whales. The is an example of
A. marginal thinking. B. comparative advantage. C. the market mechanism. D. the Phillips curve. E. an externality.
The term "price supports" refers to a
a. shortage. b. surplus. c. price ceiling. d. price floor.
Suppose the domestic supply (QS) and demand (QD) for skateboards in the United States is represented by the following set of equations:QS = -60 + 3PQD = 390 - 2PCalculate the change in producer surplus when the United States engages in free trade and imports skateboards from the rest of the world at a per unit price of $75.
A. +$3,375. B. +$2,812.50. C. -$2,812.50. D. -$3,375.