The market structure where there is a single supplier of a good or service for which there is no close substitute is
A) a price searcher.
B) a monopoly.
C) a tariff.
D) the most economically efficient market structure.
B
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Education has an external benefit. So to achieve the efficient level of education, an education voucher must equal the difference between the
A) marginal (private) cost and the marginal social benefit. B) marginal (private) benefit and the marginal social benefit. C) marginal social benefit and the marginal (private) cost. D) dollar price and marginal (private) cost. E) marginal (private) cost and the marginal social cost.
You are given the following information on the macroeconomy:
Consumption: 200 + 0.75Y Investment: 100 + 0.10Y Government Spending 500 Exports 100 Imports 50 + 0.25Y Compute the equilibrium level of income, the size of the multiplier, and the change in equilibrium income for an increase in autonomous consumption of $50 million.