A product charge is
a. a fee added to the price of a pollution-generating product based on its contribution to pollution
b. the same as an effluent charge
c. a fee imposed on the actual release of pollution, typically as a tax
d. none of the above
a. a fee added to the price of a pollution-generating product based on its contribution to pollution
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Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was and eight years later was
A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000
A change in the aggregate price level moves the economy along a given aggregate supply curve.
Answer the following statement true (T) or false (F)
Which of the following statements is NOT true about marginal utility when total utility is at its maximum point?
A. A rational consumer will not consume additional units beyond this point. B. Marginal utility is decreasing. C. Marginal utility is negative. D. Marginal utility is zero.
Which of the following statements about payroll taxes is false?
A. They include Medicare taxes. B. Both employers and employees pay these taxes. C. They provide funds for Social Security. D. They are lump-sum taxes not based on wages/salaries.