If Real GDP was $8,742 billion in year 2 and it had been $8,509 billion in year 1, what was the approximate economic growth rate during this time period?
A) 9.73 percent
B) 2.67 percent
C) 3.58 percent
D) 2.74 percent
D
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Incremental costs
a. are the total costs of abatement and regulation linked to environmental policy b. include only explicit costs c. refer to the change in costs associated with an environmental policy initiative d. include only implicit costs
If we compare regulating a natural monopoly using a marginal cost pricing rule to using an average cost pricing rule, we see that output is
A) greater with marginal cost pricing, but average cost pricing allows for costs to be covered. B) the same under both cases, but the profit is greater with average cost pricing. C) greater under average cost pricing, but profits are greater with marginal cost pricing. D) the same but profits are greater with marginal cost pricing. E) greater with marginal cost pricing, and the firm's profit is larger with marginal cost pricing.
When detailing the impact of monetary policy, a Keynesian econometric model is likely to emphasize the link between
A) interest rates and investment. B) the money supply and inflation. C) velocity and economic growth. D) aggregate supply and the money supply.
Suppose a tax is imposed on producers of aluminum as a means of internalizing the externality associated with aluminum production. If the tax accurately reflects the external costs of pollutants released into the atmosphere, then the new supply curve for aluminum coincides with which other curve?