If MSC = 20 + 0.75A, where MSC is in millions of dollars, and A is the percentage of mercury emissions abatement, then
a. the total social costs of abatement equal $184 million when A is 8 percent
b. the TSC at an abatement level of 10 percent is $27.5 million
c. a 40 percent abatement level is associated with MSC of $30 million and TSC of 20 million
d. TSC cannot be determined at any abatement level
a. the total social costs of abatement equal $184 million when A is 8 percent
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If the quantity of capital per worker in the economy increases
A) the amount of money held by workers increases. B) labor productivity increases. C) the stock of human capital necessarily increases. D) the stock of financial assets held by the public increases.
The country in which two of the categories of banks are clearing banks and merchant banks is
A) the United Kingdom. B) the United States. C) Japan. D) Germany.
All price indexes contain certain distortions or biases that reduce their effectiveness as measures of inflation. Describe these distortions and how they affect price indexes
Potential output is
A. the level of real GDP that exists when the economy is experiencing only frictional and cyclical unemployment. B. the level of real GDP that exists when the quantity of labor supplied is equal to the quantity of labor demanded. C. the level of real GDP that exists when the actual rate of unemployment is zero. D. the level of real GDP that exists when the economy is experiencing only cyclical and structural unemployment.