A five-cent deposit on beer bottles
A) provides a positive incentive because it rewards people for recycling.
B) provides a negative incentive because it punishes people who do not recycle.
C) is an irrational policy, because it fails to take into account incentives.
D) is an irrational policy, because it fails to take into account self-interest.
A
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Use the following table showing the consumption schedule for an economy to answer the next question. All figures are in billions of dollars.RGDPConsumption$440$450490490540530590570640610Given a level of investment and government expenditures totaling $30 billion, zero net exports, and a lump-sum tax of $30 billion, a reduction of government expenditures of $20 billion at each level of real GDP will result in an equilibrium real GDP of
A. $490 billion. B. $590 billion. C. $640 billion. D. $540 billion.
If an unregulated electric company is a monopolist, faces demand of Q = 100 - 50P, and has constant total costs, the profit-maximizing level of output is
a. 50 b. 100 c. 25 d. 12.5
For many firms, their input costs, such as wages and other contracted costs, are ______.
a. highly variable in the short run b. relatively constant in the long run c. quick to adjust in the short run d. relatively constant in the short run
The individual firm operating in a perfectly competitive labor market
A) can hire more labor only by offering a higher wage. B) faces an inelastic demand for labor. C) will pay less to the additional labor employed. D) can buy all the labor it wants at the going market wage rate.