All of the following contribute to labor productivity growth EXCEPT
A) population growth.
B) physical capital growth.
C) human capital growth.
D) technological advancements.
A
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The figure above shows the market for college education in the United States. The marginal external benefit associated with educating 14 million students is ________ per student per year
A) $16,000 B) $13,000 C) $11,000 D) $5,000 E) $7,000
Direct controls imposing identical emission limits on all polluters are
A) efficient if emissions can be accurately monitored, which is seldom possible. B) equitable because all polluters bear equal costs. C) likely to require a great deal of high-cost pollution reduction. D) more efficient and equitable than a system of fines because fines matter less to large than to small polluters.
Refer to Figure 16.5 below. If the marginal cost of underreporting can be written as MC = X 2 +
(A) What is the maximum marginal tax level (t) possible that will ensure tax evasion is zero?
(B) If the Marginal Tax rate is equal to 0.56, how much income will be evaded?
If the value of the multiplier is smaller, the economy
A. becomes less stable because automatic stabilizers have a larger impact. B. becomes more stable because automatic stabilizers have a larger impact. C. becomes more volatile because automatic stabilizers have a lesser impact. D. is subject to larger fluctuations because automatic stabilizers have no impact.