Pollution charges will be efficient if
a. the charge is just equal to the cost borne by others from the pollution.
b. the charge is greater than the cost borne by others from the pollution.
c. the charge is less than the cost borne by others from the pollution.
d. none of the above.
A
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The fact that using money avoids the double coincidence of wants necessary in a barter economy illustrates which function of money?
A) medium of exchange B) unit of account C) store of value D) source of liquidity
Stores need not accept your check but must accept currency because:
a. currency is backed by gold b. checks are not money but currency is. c. currency is legal tender, but checks are not. d. currency is easier to handle. e. currency is a medium of exchange, but checks are not.
Some economists believe that because the government ______________ discouraged workers as unemployed, the unemployment rate is biased ________________
a. counts; upward b. counts; downward c. does not count; upward d. does not count; downward
A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week. ss
Given the above, in profit-maximizing (or loss-minimizing) equilibrium, the firm's total variable costs are
A. $400. B. $12,000. C. $6,000. D. $600. E. none of the above