Major contributors to pollution are
a. individuals.
b. firms.
c. government.
d. All of the above are correct.
d
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Assume that autonomous consumption equals $200 and that the mpc equals 0.8. If disposable income equals $1000, then total consumption equals
A) $80. B) $200. C) $800. D) $1000.
Which of the following is the best example of an action that imposes an external cost?
a. Wear and tear on your car as the result of frequent use. b. Deterioration in the average quality of a house you own as the result of poor maintenance. c. Water pollution from an upstream factory that increases the cost of providing clean water to downstream residents. d. A rose garden on your property from which your neighbor gets much enjoyment.
QN=65 (17767) Suppose there are only two firms in an economy: Cowhide, Inc. produces leather and sells it to Couches, Inc., which produces and sells leather furniture. With each $1,000 of leather that it buys from Cowhide, Inc., Couches, Inc. produces a couch and sells it for $3,000. Neither firm had any inventory at the beginning of 2009. During that year, Cowhide produced enough leather for 20 couches. Couches, Inc. bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. What was the economy's GDP for the 2009?
a. $48,000 b. $52,000 c. $64,000 d. $68,000
Which of the following is NOT included in the money supply when the transactions approach is used?
A. money market deposit accounts B. currency C. traveler's checks D. transaction deposits