When there are beneficial externalities in a market,
A. marginal social cost is above marginal private cost.
B. marginal social benefit is above marginal private benefit.
C. marginal social benefit is below marginal private benefit.
D. marginal social cost is below marginal private cost.
Answer: B
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The curvature of the production function shows that as employment increases, the productivity of labor
A) remains positive and increases. B) remains positive but decreases. C) decreases and becomes negative. D) remains constant.
From 2000 to 2014, the dollar depreciated substantially against other currencies. This drop in value most likely benefitted
A) European citizens traveling in the U.S. B) U.S. citizens traveling in Europe. C) U.S. manufacturers importing parts from abroad. D) U.S. citizens purchasing foreign-made automobiles.