A ________ is a provision that restricts or specifies certain activities that a borrower can engage in

Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. What is the marginal benefit to society from the fourth satellite?

A) $36 B) $20 C) $18 D) $4

For this question, assume that the economy is initially operating at the natural level of output. A reduction in taxes will cause

A) an increase in the real wage in the medium run. B) a reduction in the real wage in the medium run. C) no change in the nominal wage in the medium run. D) ambiguous effects on the real wage in the medium run. E) none of the above