Because of its extremely low savings rate the U.S. borrows almost $____ billion dollars a day from ___________ to finance our federal budget and trade deficits.
Fill in the blank(s) with the appropriate word(s).
2, foreigners (or foreign investors)
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A perfectly competitive firm in a constant-cost industry produces 1,000 units of a good at a total cost of $50,000. The prevailing market price is $48
Assuming that this firm continues to produce in the long run, what happens to output level in the long run? A) The firm produces the same output level. B) The firm's output increases. C) The firm's output falls. D) There is insufficient information to answer the question.
If a firm is not forced to take account of a negative externality it creates, it will produce the quantity at which
a. the marginal cost of production equals the marginal private benefit b. the marginal cost of production equals the marginal social benefit c. the marginal social cost of production the equals marginal private benefit d. the marginal social cost of production equals the marginal social benefit e. price equals marginal social benefit