Which of the following are mentioned as forces of the new growth theory that influence economic growth? I. Technology II. Research III. Innovations
A) I only
B) I and II only
C) I and III only
D) II and III only
E) I, II, and III
E
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When net unilateral transfers are added to the net exports of goods and services, the result is called the
a. merchandise trade balance b. official reserve transactions account c. balance of payments d. balance on capital account e. balance on current account
When a depreciation in the nation's real effective exchange rate initially lowers the trade balance and then increases it, economists refer to the phenomenon as:
a. the K-curve effect. b. the J-curve effect. c. the real balances effect. d. the marginal propensity to import.
Which of the following statements concerning a monopolist is FALSE?
A. A monopolist will charge the highest price at which any individual will purchase the product. B. For a monopolist, marginal revenue is less than price. C. A monopolist will shut down if price is less than average variable cost. D. A monopolist will produce at which MR = MC.
Refer to the data provided in Table 16.4 below to answer the following question(s).Table 16.4 shows the situation facing two firms, both of which are polluting. Assume that each firm emits 5 units of pollution.Table 16.4Firm 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$2$21$16$162 6 82 24 4031220332 724204044011253070548160Refer to Table 16.4. 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 allowed to trade permits and
all possible trades are made, Firm B will reduce its pollution by a total of ________ unit(s). A. 0 B. 1 C. 2 D. 3