The idea that it takes 90 percent of your time to clean up the last 10 percent of your house illustrates that
A) the marginal cost of cleaning up slopes downward.
B) the marginal cost of cleaning up slopes upward.
C) the marginal benefit of cleaning up is constant.
D) the marginal benefit of cleaning up slopes upward.
B
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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.
Double counting can be avoided by using the value-added approach when calculating GDP.
Answer the following statement true (T) or false (F)