When residents surrounding an airport complain about noise from aircraft landings and takeoffs, the relevant economic analysis is that of
A. externalities.
B. equality-efficiency trade-off.
C. comparative advantage.
D. the cost decrease of the service sector.
E. the cost disease of personal services.
Answer: A
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The real interest rate differs from the nominal rate in that ________
A) it more accurately represents the true cost of borrowing B) it varies negatively with changes in the rate of inflation C) it is the better indicator of credit market conditions D) all of the above E) none of the above
Another way to think of the marginal seller is the seller who
a. will accept the lowest price of any seller in the market. b. requires the highest price of any potential seller in the market. c. would leave the market first if the price were any lower. d. would leave the market last if the price falls.