There is a direct link between a nation's per capita real GDP and its:
a. c and e.
b. c, d, and e.
c. human capital investment.
d. population.
e. life expectancy.
b
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In an effort to clean up the amount of sulfates introduced into the atmosphere the government has ruled that all polluters install smoke stack scrubbers on their smoke stacks and mandated a pollution limit on the amount of sulfates per parts of air
that may be legally emitted into the atmosphere. Suppose some of the polluters have found a more efficient way to eliminate the pollution. How will this discovery change the amount of sulfates emitted into the atmosphere?
Suppose that in a certain society $10,000 is the official cut-off of income for the poor. This means that any person making less than $10,000 is considered poor. Suppose further that there are three people in this society: Randy, Marlon, and Tito, with incomes of $9,900, $9,900, and $5,000, respectively.
A) How many people are in poverty? B) How much income would it take, on average, to lift every poor person out of poverty? C) What if some policy caused $200 to be taken from Tito and given to Randy. How many people are in poverty now? How much income would it take, on average, to lift every poor person out of poverty?
If Ellie Mae spends her income on possum and biscuits, and the price of possum is three times the price of biscuits, then when Ellie Mae maximizes total utility, she will buy
a. equal quantities of possum and biscuits b. three times as much possum as biscuits c. three times as many biscuits as portions of possum d. biscuits and possum until the marginal utility of possum is three times the marginal utility of biscuits e. biscuits and possum until the marginal utility of biscuits is three times the marginal utility of possum
Let Qd = 10 - 2P and Qs = 3P be the demand and supply curves for Beer. The equilibrium combination (P* and Q*) in the market is ________.
A. P* = 5; Q* = 0 B. P* = 2; Q* = 5 C. P* = 2; Q* = 6 D. P* = 6; Q* = 2