The efficient level of pollution abatement is where:
A. the marginal benefit of abatement is greater than its marginal cost.
B. the marginal benefit of abatement is less than its marginal cost.
C. the marginal benefit of abatement is equal to its marginal cost.
D. None of these
Answer: C
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New residential housing is counted in GDP as a(n)
a. durable consumption good b. household durable good c. investment good d. inventory expansion e. long-term durable good
To help with motivation, long-term productivity, and retention, firms with internal labor markets tend to offer all of the following except
A. benchmark competitive wages. B. efficiency wages. C. pay based on job seniority. D. internally based promotion systems.
If the Consumer Price Index (CPI) had a value of 128 in 2007, this means that during the period between the base year and 2007:
A. All prices increased by 28 percent. B. All prices increased by an average of 1.28 percent. C. Prices of goods and services that the typical consumer buys increased by an average of 28 percent. D. Prices of goods and services that the typical consumer buys increased by an average of 128 percent.
According to Say's law
A. desired expenditures cannot be compared with actual expenditures. B. desired production are always more than actual production. C. desired expenditures are always less than actual production. D. desired expenditures are always equal to actual expenditures.