Studies have shown that a $30 tax per ton of carbon translates to an increase in the price of gasoline by:
A. $0.27 per gallon.
B. $1.00 per gallon.
C. $2.00 per gallon.
D. $0.01 per gallon.
Answer: A
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Net foreign factor income is ________.
A. the income people in a country receive from resources owned in foreign countries B. the income people in foreign countries receive from resources owned domestically C. the difference between the values of a country's exports and imports D. the difference between the income people in a country receive from resources owned in foreign countries and the income people in foreign countries receive from resources owned domestically
Some of the cost curves for Ike's Ice Cream Kitchen are given in the above figure. At which of the following levels of output does the marginal product of labor equal the average product of labor?
A) at 0 gallons B) at 10 gallons C) at 40 gallons D) at 60 gallons
Refer to Figure 15-12. What is the amount of consumer surplus if, instead of monopoly, the industry was organized as a perfectly competitive industry?
A) $21 B) $124 C) $186 D) $332
The real and nominal exchange rates differ in the sense that:
A. the nominal exchange rate is adjusted for price differences between countries and the real is not. B. the nominal exchange rate does not reflect differences in purchasing power between currencies. C. nominal exchange rates are fixed but real rates are flexible. D. the real exchange rate does not express differences in the purchasing power of a currency.