The percentage share of income of the top quintile on curve X is
A. 27.
B. 45.
C. 55.
D. 73.
B. 45.
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Answer the following statement(s) true (T) or false (F)
1. An implication of Paul Portney’s benefit-cost analysis of the 1990 Clean Air Act Amendments is that the United States is under-regulating air pollution. 2. Based on the EPA’s first and second prospective studies of the 1990 Clean Air Act Amendments, the associated net benefits of this legislation are greater than zero. 3. The NAAQS are established using benefit-cost analysis. 4. Because the NAAQS are nationally-based and uniform, they necessarily achieve an efficient result at the regional level. 5. The more stringent standards in PSD areas do not necessarily result in an efficient level of abatement in those regions.
If a monopolist lowers its price from $45 to $42 in order to increase its sales volume, marginal revenue
a. equals $45. b. equals $42. c. is less than $42. d. is between $45 and $42.
According to Walton and Rockoff, the primary reason the Federal government failed to build an adequate highway system before the Civil War was
a. the technology was not available. b. the canal craze diverted attention. c. rivalries among different sections of the country stalled legislation. d. the teachings of Adam Smith were taken too literally.
A characteristic of outsourcing is
a. essentially the opposite of vertical integration b. likely to be profitable exactly when vertical integration is profitable c. it prevents a firm from focusing on its core competencies d. it prevents the exploitation of differing degrees of economies of scale at different points in the supply chain