As a group, people with high incomes are likely to have
A) greater-than-average family inheritances and greater than average SAT scores.
B) greater-than-average holdings of stocks and bonds and lower-than-average productivity.
C) a stable marriage and no children.
D) greater-than-average productivity and greater-than-average amounts of capital.
D
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Coal produced by strip mining leaves the area that has been mined unusable. To restore the area to its original state costs approximately $10 for every ton mined. Using the coal to generate electricity causes air pollution. To outfit the electric power plant with pollution control devices costs another $10 per ton. The social cost of coal-fired electricity then includes
a. private cost plus the externality costs associated with mining b. private cost plus the externality costs associated with pollution control c. the externality costs associated with mining and pollution control d. private cost plus the externality costs associated with mining and pollution control e. just the private cost because the externality costs are incorporated in it
Arbitrage ensures that the spot exchange-rate value of a currency will equal the forward exchange-rate value of the currency.
Answer the following statement true (T) or false (F)