The Clean Air Act of 1970 has
a. been ineffective in reducing lead emissions in automobiles
b. actually caused an increase in auto emissions
c. been fairly successful in reducing auto emissions, especially lead
d. been unsuccessful in reducing auto emissions, especially sulfur oxides
e. been ineffective in reducing carbon monoxide emissions from autos
C
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Refer to Table 9-11. With trade, what is the total gain in hat production?
A) 150 B) 300 C) 400 D) 650
George is debating whether to concentrate on playing professional football or professional baseball. He is offered $6 million a year to play baseball and $7 million a year to play football. If he chooses to play football
A) the economic rent in his salary is $7 million. B) the economic rent in his salary is $6 million. C) the economic rent in his salary is $1 million. D) the economic rent in his salary is $13 million.
In constructing the monopolist's input demand curve, which of the statements is FALSE?
A) The demand curve has a negative slope due to the law of diminishing marginal product. B) Marginal revenue is always positive. C) A monopoly restricts output and hires fewer units of labor than a perfectly competitive firm. D) The supply curve a monopoly faces is horizontal because the monopoly is a price taker.
Addressing the natural rate of unemployment is
a. straightforward in theory but difficult in practice. b. straightforward in theory and in practice. c. difficult in theory and in practice. d. straightforward in practice but difficult in theory.