Mark Zuckerberg believes everyone in the world should have Internet access
A) This is a positive statement and is not in the social interest if the marginal benefit of Internet access exceeds the marginal cost.
B) This is a positive statement and is not in the social interest if the marginal cost of Internet access exceeds the marginal benefit.
C) This is a normative statement and is not in the social interest if the marginal benefit of Internet access exceeds the marginal cost.
D) This is a normative statement and is not in the social interest if the marginal cost of Internet access exceeds the marginal benefit.
D
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Which of the following is NOT an implication of the theory of purchasing power parity?
A) Exchange rates move to equalize the purchasing power of different currencies. B) Exchange rates should be at a level that makes it possible to buy the same amount of goods and services with the equivalent amount of any country's currency in the long run. C) A country with a higher inflation rate should experience an appreciation of its currency. D) The real exchange rate should equal one.
Suppose you have an hour before your next class starts. You can either read a book, get something to eat, or take a nap. The opportunity cost of getting something to eat is
a. the cost of what you eat b. the value of reading and sleeping c. the loss of value from not reading or sleeping d. the net benefit of sleeping for another hour e. impossible to determine because the most preferred alternative is not known