The additional cost to a producer of hiring an additional unit of labor is called the marginal cost
Indicate whether the statement is true or false
TRUE
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Answer the following statement(s) true (T) or false (F)
1. The Clean Air Interstate Rule (CAIR) included an annual SO2 trading program. 2. NOX contributes both to acid rain and to the formation of ground-level ozone. 3. Because NOX readily moves across state borders, a series of interstate collaborations formedover time to address the problem, but none established a trading program. 4. Two new NOX cap-and-trade programs were launched under the Clean Air Interstate Rule (CAIR). 5. RECLAIM is a California trading program that used trading credits in a regional market for sulfur oxide and nitrogen oxide.
Suppose buyers of fountain drinks are required to send $0.50 to the government for every fountain drink they buy. Further, suppose this tax causes the effective price received by sellers of fountain drinks to fall by $0.20 per drink. Which of the following statements is correct?
a. This tax causes the demand curve for fountain drinks to shift downward by $0.50 at each quantity. b. The price paid by buyers is $0.30 per drink more than it was before the tax. c. Forty percent of the burden of the tax falls on sellers. d. All of the above are correct.
_______% of the people on welfare lives below the poverty line.
Fill in the blank(s) with the appropriate word(s).
In the shortrun (specificfactors) model, foreign direct investment is expected to ________ the marginal product of labor and ________ wages in the receiving country.
a. decrease; decrease b. increase; decrease c. decrease; increase d. increase; increase