According to most economists, reducing automobile emissions to zero would be:
a. optimal.
b. inefficient.
c. beneficial.
d. impossible.
b
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Suppose the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
A) Inventories will decrease immediately and production of goods and services will increase until real GDP catches up with total planned real expenditures. B) Inventories will increase immediately and production of goods and services will decrease until real GDP catches up with total planned real expenditures. C) Inventories will not change and production of goods and services will not change either. D) Both inventories and production of goods and services will increase.
A productivity slowdown was observed from the
A) early 1950s to the late 1960s. B) early 1960s to the early 1970s. C) late 1960s to the early 1980s. D) mid-1980s to the late 1990s.
How is the price producers receive with a subsidy calculated?
a. by subtracting the tax from the amount of the subsidy b. by adding deadweight loss to the total surplus c. by subtracting the amount of the subsidy from producer surplus d. by adding the price consumers pay to the amount of the subsidy
Which case below best represents a case of third-degree price discrimination?
A. A professional baseball team pays two players with identical batting averages different salaries. B. A utility company charges less for electricity used during "off-peak" hours, when it does not have to operate its less-efficient generating plants. C. An insurance company offers discounts to safe drivers. D. A major airline sells tickets to senior citizens at lower prices than to other passengers.