The income of the town of Kennebunkport has been growing by 2 percent per year. If this growth continues into the future, how long will it take until the town's income has doubled?
a. About 36 years
b. About 24 years
c. About 96 years
d. About 50 years
e. About 144 years
a
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If the demand for computers increases as consumers' incomes rise, then computers are:
A. a normal good. B. a complementary good. C. an inferior good. D. a substitute good.
If a perfectly competitive firm has a 70 percent probability of a high demand of $5 and a 30 percent chance of a low demand of $4, what is the firm's expected marginal revenue?
A) $4.50 B) $4.70 C) $1.20 D) $3.50
An identified pollutant that is well understood by scientists is called
a. a toxic pollutant b. a conventional pollutant c. a nonconventional pollutant d. none of the above
Figure 6-1
illustrates the four possibilities of the distribution of costs and benefits among voters for a government project. For which types of projects would government action most likely work well, undertaking only efficient projects and rejecting inefficient ones?
a.
types A and B
b.
types B and D
c.
types B and C
d.
types A and D