The global financial and economic crisis that began to develop in 2007
A. arose in industrial countries.
B. was the result of a prolonged period of declining world production.
C. arose in developing countries.
D. was worse than the Great Depression of the 1930s.
Answer: A
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Other things the same, which curve in the market for foreign-currency exchange shifts and which direction does it shift if net capital outflow rises?
Suppose that a powerplant is given a permit to pollute 10 tons of carbon into the atmosphere. As the powerplant operates, it can generate $200 of profit selling electricity per ton of carbon that it sends into the atmosphere. If the price of the carbon permit is $100 per ton, then:
A. the powerplant is better off shutting down and selling its permit. B. the powerplant is better off buying more permits and selling more electricity. C. the powerplant is better off selling electricity and using the permits to pollute 10 tons of carbon. D. the powerplant is better off shutting down and buying more permits.
In April 2017, the U.S. unemployment rate was highest for
A) whites. B) Hispanics. C) high school dropouts. D) African Americans. E) Asians.
Sandy derives utility from consuming "all other goods," g, and clean air (measured by particulate matter removed per m3), a, as measured by the utility function U(g,a) = g0.6a0.4. The price of "all other goods" is $20 and the price of clean air (abatement) equals $10. Brian is the only other consumer in the market for clean air and demands 10 units of clean air. What is the market demand for
clean air? A) Total market demand is 14 units of clean air. B) Total market demand is 12 units of clean air. C) Total market demand is 10 units of clean air. D) Total market demand is 16 units of clean air.