The optimal air quality would be determined where the marginal social cost of improving air quality is equal to the marginal social benefit from cleaner air
a. True
b. False
A
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Listed in the above table are the total revenues for the firms in two different industries. Each industry has only eleven firms. Find the four-firm concentration ratio and the Herfindahl-Hirschman Index for each industry
What will be an ideal response?
Decreasing government spending ________ the price level and ________ equilibrium real GDP
A) increases; increases B) decreases; increases C) increases; decreases D) decreases; decreases
The three curves in the above figure are
A) (1 ) the long-run aggregate supply curve, (2 ) the aggregate demand curve, and (3 ) the short-run aggregate supply curve. B) (1 ) the long-run aggregate supply curve, (2 ) the short-run aggregate supply curve, and (3 ) the aggregate demand curve. C) (1 ) the short-run aggregate supply curve, (2 ) the aggregate demand curve, and (3 ) the long-run aggregate supply curve. D) (1 ) the aggregate supply curve, (2 ) the short-run aggregate demand curve, and (3 ) the long-run aggregate demand curve.
Horizontal equity is a difficult concept to implement because
a. it is difficult to determine how unequally unequals should be treated. b. it is difficult to measure ability to pay. c. it is difficult to determine which people are equally situated. d. people object to the use of absolute tax liability instead of percentage of income.