The above figure illustrates that if this country wishes to move from its current production point (labeled "Current") and have 10 more tons of food, it can do this by producing
A) 10 more tons of clothing.
B) 10 fewer tons of clothing.
C) 5 more tons of clothing.
D) 5 fewer tons of clothing.
D
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Public saving is positive when:
A. the government's budget is balanced. B. there is a government budget surplus. C. after-tax income of households and businesses is less than consumption expenditures. D. after-tax income of households and businesses is greater than consumption expenditures.
Gerald is deciding what kind of light bulbs to install in the light fixtures in his new home. He has it narrowed down to compact fluorescent bulbs (CFLs) or LED bulbs. The CFLs will cost $350 and the LEDs will cost $900
Gerald estimates that the energy-saving benefits from the CFLs will be $750 and the energy-saving benefits from the LEDs will be $1,250. Based on these numbers, Gerald should purchase the A) CFLs because the cost is cheaper. B) CFLs because the the net benefit is greater. C) LEDs because the benefit is greater. D) LEDs because the net benefit is greater.
If Best Paints and Paint with Us are paint suppliers in tacit collusion and Best Paints launches a new advertising campaign that states that it will meet any competitor's price on comparable paint, Best Paints might be tacitly signaling to Paint with Us that they are willing to ________.
A) raise their price B) lower their price C) maintain current the price D) cut price is exactly half
Two firms, A and B, each currently dump 50 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government will sell 40 pollution permits for $75 each. It costs Firm A $100 for each ton of pollution that it eliminates before it reaches the river, and it costs
Firm B $50 for each ton of pollution that it eliminates before it reaches the river. Neither firm produces any less output, but they both conform to the law. It is likely that between the cost of permits and the cost of additional pollution abatement, a. Firm B will spend $3,500. b. Firm A will spend $4,000. c. Firm A will spend $4,500. d. Firm B will spend $3,000.