A five-cent container deposit on bottles
A. Increases the price of recycled materials and thus discourages recycling.
B. Increases the price of containers that do not use recycled materials.
C. Has no impact on the price of recycled materials.
D. Decreases the price of recycled materials and thus encourages recycling.
Answer: D
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What do RBC economists mean by the term calibration?
A) Modifying the structure of an economic theory to strengthen its logic B) Changing a theory as the economy changes C) Working out a detailed numerical example of a more general theory D) Writing out the implications of a theory for all the main economic variables
Refer to the table below. What is Crunchy Fruits total marginal cost to produce 15,000 units?
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $2.25
B) $4.50
C) $3.75
D) $3.25
Compensation of employees:
a. excludes the monetary value of fringe benefits. b. excludes paid vacations. c. is the largest component of GDP. d. excludes employer's taxes paid for employees' Social Security. e. includes rental income.
When a tariff is imposed, a deadweight loss occurs because of: a. a loss in producer surplus
b. a fall in the price of the imported good. c. an increase in the supply of the good. d. a loss in total surplus.