If the marginal-cost curve is rising, then so is the average-total-cost curve
a. True
b. False
Indicate whether the statement is true or false
False
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Determine the deposit/refund amount that achieves an efficient solution.
State officials are establishing a deposit/refund system for batteries. Marginal costs and benefits have been estimated to be: MPC = 5 + 0.5Q MPB = MSB = 20 – 0.5Q MSC = 5 + 0.7Q, whereQ is in millions, and the marginal cost and benefit values are in dollars per battery.
If the price index was 90 in year 1, 100 in year 2, and 95 in year 3, then the economy experienced
a. 10 percent inflation between years 1 and 2 ,and 5 percent inflation between years 2 and 3. b. 10 percent inflation between years 1 and 2, and 5 percent deflation between years 2 and 3. c. 11.1 percent inflation between years 1 and 2, and 5 percent inflation between years 2 and 3. d. 11.1 percent inflation between years 1 and 2, and 5 percent deflation between years 2 and 3.
If nominal GDP for an economy is $10,444 billion and the price index is 110, then real GDP is $9495.
Answer the following statement true (T) or false (F)
Value added refers to:
A. any increase in GDP that has been adjusted for adverse environmental effects. B. the excess of gross investment over net investment. C. the difference between the value of a firm's output and the value of the inputs it has purchased from others. D. the portion of any increase in GDP that is caused by inflation as opposed to an increase in real output.