This Application addresses the concept of
A) inflation and the housing boom. B) the dangers of high interest rates.
C) increases in consumer wealth. D) the down-side of leverage.
D
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Immigration accounts for what percentage of annual population growth in the United States in recent years?
A. About 10 percent B. About 20 percent C. About 33 percent D. About 50 percent
Refer to Pollutants. Suppose transactions costs are zero. Who should be made liable for the crop damage if the goal is to achieve an efficient outcome?
A chemical plant's production adds pollutants to a stream which irrigates a farm's crops. The pollutants damage the farm's crops, increasing the firm's costs by $800 per month. The crop damage may be eliminated in two ways: the chemical plant can install a new filtering system costing $300 per month, or the farm can install a new irrigation system costing $600 per month. a. The chemical plant should be made liable, because it is the source of the pollution. b. The chemical plant should be made liable, because it possesses the least-cost method of eliminating the externality. c. The farm should be made liable, because it can receive a bribe from the chemical plant. d. An efficient outcome will be achieved no matter who is made liable for the crop damage.
In the above figure, the long-run equilibrium real GDP is
A) $10 trillion. B) $11 trillion. C) $12.trillion D) not displayed.
You have data for the amount of rainfall in 50 cities for the month of June. The type of graph to best display these data would be a
A) multi-variable time series graph. B) trend-line diagram. C) time-series graph. D) scatter diagram. E) cross-section graph.