The total benefits to society from pollution abatement
A) increase at an increasing rate with the increase of pollution abatement.
B) increase at a decreasing rate with the increase of pollution abatement.
C) decrease at an increasing rate with the increase of pollution abatement.
D) decrease at a decreasing rate with the increase of pollution abatement.
Answer: B
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A sales tax creates a deadweight loss because
A) there is some paper work opportunity cost of sellers paying the sales tax. B) demand and supply both decrease. C) less is produced and consumed. D) citizens value government goods less than private goods. E) the government spends the tax revenue it collects.
Renee consumes pizza and rice. An increase in her income causes her to consume fewer pizzas and more rice. The change in pizzas consumed means that
A) her total utility from consuming pizzas had been negative. B) her marginal utility from consuming pizzas had been negative. C) her marginal utility from consuming pizzas had been zero. D) pizza is an inferior good for Renee.
Why are interest rates adjusted for inflation?
Answer the following statement true (T) or false (F)
1) A British thermal unit is the amount of energy required to raise the temperature of one liter of water by one degree Celsius. 2) The average person in the United States generates about 10 pounds of trash per day. 3) The United States produces more than twice as much output per million BTUs of energy consumed than it did in 1950. 4) Increases in U.S. living standards have matched increases in per capita energy use.