Sarah used to be a music teacher at a local school, but got let go last year due to budget cuts. Sarah now works part-time as a waitress while looking for another teaching job. Sarah would be considered:
A. frictionally unemployed.
B. structurally unemployed.
C. underemployed.
D. real-wage unemployed.
Answer: C
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Profit can be maximized only where marginal revenue equals
a. average cost. b. total cost. c. marginal cost. d. average cost.
In economics, secondary effects refer to the
What will be an ideal response?
Which of the following statements is true?
A. Worldwide, no countries are catching up to the United States with respect to GDP per capita. B. The poverty line has not been adjusted at all in the past 35 years. C. Income distributions have not changed much in the United States in the past 35 years. D. Progressive income tax structures are one method of making incomes more equal.
Refer to the data provided in Table 16.1 below to answer the following question(s).Table 16.1 shows the situation facing two firms, both of which are polluting. Assume that each firm emits 5 units of pollution.Table 16.1Firm AFirm AFirm AFirm BFirm BFirm BReduction of Pollution by Firm AMC of reducing pollution for Firm ATC of reducing pollution for Firm AReduction of Pollution by Firm BMC of reducing pollution for Firm BTC of reducing pollution for Firm B1$4$41$8$82 610212203 9193163641332420565185052480Refer to Table 16.1. Suppose the government wants to reduce the total amount of pollution from the current level of 10 to 4. To do this, the government caps each firm's emissions at 2 units and issues 2 permits to each firm. If firms are not allowed to trade permits, what is the
total cost of the pollution reduction? A. $30 B. $55 C. $58 D. $130