Education is a good example of a positive externality because the benefits of an education accrue not only to the individual, but also to society as a whole
a. True
b. False
Indicate whether the statement is true or false
True
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The notion that, following a devaluation, the BOT falls for a while before increasing is called a ________ effect
A) relative price B) elasticity C) J-curve D) pass-through
Which of the following is correct?
a. Some bonds have terms as short as a few months. b. Because they are so risky, junk bonds pay a low rate of interest. c. Corporations buy bonds to raise funds. d. All of the above are correct.
Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Firm X ($/day)$500$514$530$555$585Cost to Firm Y ($/day)$400$420$445$480$520Cost to Firm Z ($/day)$300$325$360$400$550 Suppose the government imposes a tax of $21 on each ton of smoke emitted. To minimize costs, Firm X will emit ________ tons; Firm Y will emit ________ tons, and Firm Z will emit ________ tons.
A. 2; 3; 4 B. 3; 4; 4 C. 1; 2; 3 D. 1; 2; 4
Recall the Application about the Native American Tribes in Michigan that had a monopoly in casino gambling to answer the following question(s).Recall the Application. How many Native American Tribes made a deal with the state of Michigan in 1993 and were granted a monopoly in casino gambling?
A. 2 B. 3 C. 7 D. 10