Fred has always been known as "the rich kid." Strictly speaking, this must mean that ________
A) Fred has a lot of cash
B) Fred's income is quite high
C) Fred won the lottery before he was legally eligible
D) Fred has a flashy wardrobe
E) Fred has a lot of wealth
E
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Using the data in the above table, if the private sector runs a surplus of $250 billion, imports will equal $1,000 billion if
A) government expenditure equals -$750 billion. B) investment equals -$1000 billion. C) government expenditure equals -$1000 billion. D) the government sector runs a deficit of $750 billion.
Long Beach Island, off the coast of New Jersey, is considering enhancing its system of satellite towers to help communication during emergencies such as hurricanes
A study showed that in Superstorm Sandy the existing number of satellite towers resulted in the marginal social cost of a satellite tower being less than the marginal social benefit. To achieve efficiency, this study indicates that the A) system should be left as is because the quantity of satellite towers is efficient. B) system should be reduced in size because the quantity of satellite towers is more than the efficient quantity. C) system should be expanded because the quantity of satellite towers is less than the efficient quantity. D) None of the above because the study erred in comparing the marginal social cost to the marginal social benefit since it should have compared the marginal private cost to the marginal private benefit.