According to this model, if the government uses a uniform standard
Suppose that two firms, X and Y, face the following abatement costs:
MACX = 1.2AX, MACY = 0.3AY
TACX = 0.6AX2 TACY = 0.15AY2
Further assume that the combined abatement standard is 40 units for both firms.
a. firm Y would face a marginal abatement cost that is higher than that for firm Y
b. that standard would achieve a cost-effective solution
c. firm Y should do more of the abating and firm X should do less to move closer to a cost-effective solution
d. firm X’s marginal abatement cost would be $48, and firm Y’s marginal abatement cost would be $12
c. firm Y should do more of the abating and firm X should do less to move closer to a cost-effective solution
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A multilateral real exchange rate is the
A) government exchange rate. B) index based on the average of the real exchange rates with all other countries in the world. C) adjusted exchange rate. D) index based on the average of the real exchange rates with all U.S. trading partners.
If the labor supply and demand curves cross at a wage of $20,
a. a wage rate of $10 per hour would lead to an excess demand for labor b. a wage rate of $10 per hour would lead to an excess supply of labor c. that wage causes a high rate of cyclical unemployment d. employees are overpaid e. a wage rate of $10 per hour would mean there is a significant amount of structural unemployment
The federal regulatory agency whose mission is to regulate workplace health and safety is the
A. SEC. B. FTC. C. AFL-CIO. D. OSHA.
At any point along the LM curve,
A) the quantity of money demanded equals the quantity of money supplied. B) the economy must be in general equilibrium. C) the nominal interest rate must equal the real interest rate. D) saving must equal investment.