Refer to Table 2.4. The GDP deflator for 2012 is
A) 60.9.
B) 94.3.
C) 106.1.
D) 157.4.
C
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Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B. In a normal year the price of wapanzo beans will be
A) $1 per pound. B) $2 per pound. C) $3 per pound. D) $4 per pound.
How can tariffs lead to a situation in which all parties to a trade lose?
What will be an ideal response?
A Blue Ribbon Committee has decided that acid rain should be reduced and is trying to determine the optimal level of reduction. There are benefits from reducing acid rain (more wildlife and forests, better health, etc.), but there are also costs. The committee estimates that the marginal benefit of each unit of reduction is $700 - 5R, where R is units of reduction, and the marginal cost is 2R. If the committee wants to maximize the net benefit from reducing acid rain, what is the optimal level of pollution reduction?
A. $200 B. $100 C. $20 D. $10
Based on new trade theory, as the size of markets increases, companies may be able to attain better ______.
Fill in the blank(s) with the appropriate word(s).