Which of the following goods and services would be excluded from the CPI?
a. Legal services
b. Used cars
c. French wines sold in the U.S.
d. Restaurant meals
e. Shares of stock in U.S. corporations
E
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The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. There is no external benefit
What is the marginal benefit to the citizen of Kaffenia who consumes the four hundredth pound of coffee each day? A) $1.00 per pound B) $2.00 per pound C) $3.00 per pound D) $4.00 per pound
If a surplus exists in a market, then we know that the actual price is
a. above the equilibrium price, and quantity supplied is greater than quantity demanded. b. above the equilibrium price, and quantity demanded is greater than quantity supplied. c. below the equilibrium price, and quantity demanded is greater than quantity supplied. d. below the equilibrium price, and quantity supplied is greater than quantity demanded.