An example of a real flow in the circular flow diagram is
A) a household's supply of work effort at its new business.
B) Nike's payment of wages to workers in China.
C) your county's collection of property taxes.
D) the government's payment of wages to a soldier.
E) a teacher's salary at the local high school.
A
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Marginal cost is the increase in total ________ that results from a one-unit increase in ________
A) fixed cost; the fixed input B) cost; output C) variable cost; the variable input D) fixed cost; output
Private insurance companies have been out of the flood insurance business for decades. After their departure the government has gone into the business by granting coverage with below-market premiums
Why might this be in inefficient outcome? Comment on the amount of housing that we should expect to see along our nation's coastlines. Also, discuss the degree of danger that this poses for both property and lives when hurricanes strike.