In this graph for the marginal costs and benefits of pollution controls, spending efforts aimed at pollution control over the past few decades have probably ______.
a. done nothing to the optimal level of pollution control
b. decreased the optimal level of pollution control
c. caused the marginal social benefit curve to shift to the right
d. caused the marginal social benefit curve to shift to the left
c. caused the marginal social benefit curve to shift to the right
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What type of economic research do analysts at investment banks conduct?
What will be an ideal response?
Let's try to understand Alicia's strong dislike for gambling by applying utility analysis to it. Her dislike makes sense only if
a. the sum of the marginal utility she derives from an anticipated win and the negative marginal utility associated with an anticipated loss is negative b. the sum of the marginal utility she derives from an anticipated win and the negative marginal utility associated with an anticipated loss is positive c. she derives zero consumer surplus from a win and suffers a loss of consumer surplus from a loss d. she continues to bet until she loses e. the law of diminishing marginal utility cannot be applied to gambling
Which of the following is true regarding value and exchange?
a. Middlemen fail to create value since they do not expand the supply of physical goods. b. A good or service has a given value regardless of who uses it or how it is used. c. If it were not for middlemen, transaction costs would be zero. d. Voluntary exchange creates value by channeling goods into the hands of people who value them most.
In general, as a person includes fewer stocks and more bonds in his portfolio,
a. both risk and expected return rise. b. risk rises but expected return falls. c. risk falls, but expected return rises. d. both risk and expected return fall.