When deciding whether to install visible countdown timers for pedestrians at crosswalks, which of the following would be considered in the cost-benefit analysis? (Check all that apply.)
A. The higher maintenance bill associated with fixing these more complex signals when they break down.
B. The value of the pedestrians' lives saved by having the timers to assist in crossing the street.
C. The cost in terms of dollars of installing these new timers all over the city.
D. The value of the lives lost by drivers who watch the countdown timers and try to make it through a light.
A. The higher maintenance bill associated with fixing these more complex signals when they break down.
B. The value of the pedestrians' lives saved by having the timers to assist in crossing the street.
C. The cost in terms of dollars of installing these new timers all over the city.
D. The value of the lives lost by drivers who watch the countdown timers and try to make it through a light.
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Refer to the following graph. An increase in demand is reflected as
a. a shift of the demand curve from D to D1.
b. a shift of the demand curve from D to D2.
c. movement from point A to B along demand curve D.
d. movement from point A to E when the price is $12.50.
The choice on a production possibilities set that is socially preferred or the choice on an individual's budget constraint that is personally preferred displays allocative efficiency
a. True b. False Indicate whether the statement is true or false
One role of households in the circular flow model is that of ______.
a. distributing goods and services b. purchasing goods and services c. selling goods and services d. producing goods and services
An economy has two workers, Jen and Rich. Every day they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. What is the opportunity cost for Rich to produce one radio?
A. 4 TVs B. 1/3 TV C. 1/6 TV D. 1/12 TV