The marginal cost of reducing pollution
A. Falls as the environment gets cleaner.
B. Is not an issue in determining the optimal rate of pollution.
C. Is constant.
D. Rises as the environment gets cleaner.
Answer: D
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Sustained federal deficits tend, other things the same, ________
A) to decrease income inequality in the United States B) to decrease income inequality in Europe but not the United States C) to increase income inequality in the United States D) have little effect on the distribution of income in market economies
The European Economic Community was created in 1957 by:
a. France, the United Kingdom, Italy, Belgium, the Netherlands, and Luxembourg. b. France, West Germany, Italy, Belgium, the Netherlands, and Luxemburg. c. France, West Germany, Italy, Belgium, the Netherlands, and the United Kingdom. d. France, West Germany, Italy, the United Kingdom, Belgium, the Netherlands, and Luxembourg. e. France, West Germany, Italy, Belgium, the United Kingdom, and Luxembourg.
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Short-run equilibrium output in this economy equals:
A. 1,440. B. 1,000. C. 1,160. D. 1,280.
When unwanted business inventories pile up, which of the following is likely to occur?
A. A lower price level. B. A higher level of output. C. A lower level of unemployment. D. No change in the level of output.