GDP would be a better measure of economic well-being if it included:
A. the value of leisure.
B. the market value of final goods.
C. the total value of intermediate goods.
D. the costs of education.
Answer: A
Economics
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In the presence of no externalities,
A) social marginal cost exceeds private marginal cost. B) social marginal cost is less than private marginal cost. C) social marginal cost equals private marginal cost. D) social marginal cost and private marginal cost cannot be compared.
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Left alone, with no government interference, a profit-maximizing firm will produce emissions
A) where the MSB curve crosses the MCA curve. B) at the vertical intercept of the MSB curve. C) at the horizontal intercept of the MSB curve. D) at the vertical intercept of the MCA curve. E) at the horizontal intercept of the MCA curve.
Economics