If there are both external benefits and external costs:
a. the social marginal benefit of an activity exceeds the private marginal benefit.
b. the private marginal benefit of an activity exceeds the private marginal cost.
c. the social marginal cost of an activity exceeds the private marginal cost.
d. Both a. and c. are true.
Question 2
If the actual unemployment rate is less than the natural rate of unemployment, there will be a tendency toward:
a. increased inflation and a leftward shift of the short-run Phillips curve.
b. decreased inflation and a rightward shift of the short-run Phillips curve.
c. increased inflation and a rightward shift of the short-run Phillips curve.
d. decreased inflation and a leftward shift of the short-run Phillips curve.
Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Economic and Social Development
Social Conditions in China
5. Social contract theorists believe that the social contract is/was a historical fact. ...
Rapidly decreasing sequence costs have enabled the rapid expansion