Describe the basic issues involved in setting up a system of national accounts that includes the value of environmental capital and its loss
What will be an ideal response?
Detailed in the text.
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The inclusion of external costs in the decision making process determining equilibrium price and quantity leads to
A) lower priced items and increased quantity. B) lower priced items and a decline in quantity. C) higher priced items and increased quantity. D) higher priced items and a decline in quantity.
High Powered Incentives Hyperion Tool & Dye bids for contracts to retool other companies' production lines. The compensation schedule for their sales staff includes a 2% commission for the first $350,000 in orders per quarter, 3% for the next $650,000,
and 4% for amounts over $1,000,000 . Hyperion is having trouble scheduling its staff for the jobs that they are awarded because the orders always seem to be awarded around the first and last days of a quarter. Why are orders bunched like this and how can Hyperion fix this?
The production possibilities curve represents
A) the total amount of stocks and bonds that exist in the economy. B) the trade-off between human capital and physical capital that exists. C) all possible combinations of total output that can be produced. D) society's needs.
The Keynesian theory is consistent with the business cycle fact that inflation is
A) procyclical and leading. B) procyclical and lagging. C) countercyclical and leading. D) countercyclical and lagging.