Exports ________ society's total surplus because of the ________ in price and ________ in production.
A) increase; rise; increase
B) increase; rise; decrease
C) decrease; fall; increase
D) decrease; fall; decrease
E) increase; fall; increase
Question 2
Your student association is looking for an auditorium to rent for an all-day conference. The university's Performing Arts Center is vacant on that day, so the association wants to rent it.
The physical plant manager tells you that the daily rent is 660, which includes 400 to cover part of the cost paid to build the Center, 40 to cover part of its regular maintenance cost, 50 to help pay for the building's insurance, 100 to cover the extra cost of electricity that the university would incur because of the conference, and 70 to pay for additional janitorial services for the conference. You know that no one else wants to rent the Center on that day and you think that the price that the manager charges is too high. But how much should you pay? Use the economic way of thinking to answer this question and to convince the manager to accept your offer: a) If you rent the Center, what will be the university's marginal cost of renting the center to you? b) If you rent the Center, what will be the university's marginal benefit of renting the center to you? c) What amount of rent should you offer? Convince the manager to accept your offer.
Functionalist and Conflict Views of Stratification: The Distribution of Society's Resources
Japan’s Economy and Society
Real Price of Oil, 1861–2010
Total Fertility Rate in Japan: Actual versus Forecast
Total Fitness and Wellness, Brief Edition, 4th Edition
Construct a Lorenz curve that shows income distribution in this society.