Which equation is incorrect?
A. MV = GDP
B. PQ = GDP
C. MV = PQ
D. 10M = 10P
D. 10M = 10P
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The accompanying table gives the outcomes and probability distribution of the number of times a student checks her e-mail daily:
Probability of Checking E-Mail Outcome (number of e- mail checks) 0 1 2 3 4 5 6 Probability distribution 0.05 0.15 0.30 0.25 0.15 0.08 0.02 Sketch the probability distribution. Next, calculate the c.d.f. for the above table. What is the probability of her checking her e-mail between 1 and 3 times a day? Of checking it more than 3 times a day? What will be an ideal response?
All of the following aim to reduce income inequality EXCEPT
A) Social Security payments. B) earned income tax credits. C) regressive taxes. D) food stamp programs.
Suppose that a government agency is trying to decide between two pollution reduction policy options. Under the permit option, 100 pollution permits would be sold, each allowing emission of one unit of pollution. Firms would be forced to shut down if they produced any units of pollution for which they did not hold a permit. Under the pollution tax option, firms would be taxed $250 for each unit of pollution emitted. The regulated firms all currently pollute and face varying costs of pollution reduction, though all face increasing marginal costs of pollution reduction. Because firms face increasing marginal costs to reduce pollution, the demand curve for pollution permits will be:
A. perfectly elastic. B. perfectly inelastic. C. downward sloping. D. upward sloping.
Use the following figure to answer the next question.
A shift from AS1 to AS2 would be consistent with what economic event in U.S. history?
A. Demand-pull inflation in the late 1960s B. Cost-push inflation in the mid-1970s C. Great Recession in 2007-2009 D. Full-employment in the late 1990s