The EPA’s second prospective study of the Clean Air Act Amendments (CAAA) of 1990,
a. expands the time frame of the first prospective study to the 1990 to 2020 period
b. finds that the estimated costs of the CAAA outweigh the estimated benefits
c. uses the same data and methods employed in the first study
d. generates estimates that indicate negative net benefits linked to the CAAA
a. expands the time frame of the first prospective study to the 1990 to 2020 period
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Martha Stewart earns $4,000 and she wants to save it for retirement, which is 10 years away. She can either save it in a taxable account or put it into a Roth IRA. Suppose that Martha can receive an annual rate of return of 8 percent and her marginal tax rate is 25 percent. By the time she reaches retirement, how much money would she have in either option? NOTE: Martha has to pay tax on the $4,000, so she cannot put the full amount into either the taxable account or the Roth.
What will be an ideal response?
Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. What is Larry's economic surplus from attending State College instead of his next best alternative?
A. $5,000 B. $40,000 C. $20,000 D. $10,000
Many economists criticize protectionism because it causes losses to consumers and eliminates jobs in domestic industries that use protected products. Why, then, do some people support protectionism?
A) The criticisms of economists are based on theory. In fact, protectionism increases consumer and producer surplus as well as employment. B) Supporters of protectionism in high-income countries believe that wages will fall as a result of competition with firms from developing countries. C) Supporters of protectionism believe free trade will cause their countries to lose their comparative advantage. D) Supporters of protectionism believe that free trade will lead to inflation.
In 1914, the United States Congress
A. created the Per Se Rule. B. passed the Sherman Antitrust Act. C. passed the Rule of Reason Act. D. created the Federal Trade Commission.