Congestion pricing
A) is an estimation of the price of being off of work with the flu.
B) is an attempt to internalize the external costs of driving.
C) is the raising of taxes on gasoline to support the construction of mass urban transit systems.
D) works fine in theory but cannot work in the real world because the technology is lacking.
B
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Over time in a growing economy, the long-run aggregate supply curve will
A) become horizontal at the long-run potential price level. B) shift rightward. C) shift leftward. D) become increasingly steep.
Economists using marginal utility theory assume that consumers' objectives are to
A) maximize their total utility. B) maximize their marginal utility. C) maximize their income. D) none of the above.
In 1975, Richard Petty won the NASCAR race in Richmond, earning $6265. In 2006, Dale Earnhardt, Jr., won the race, earning $239,166. The CPI index was 52.5 in 1975 and 198.7 in 2006 (base year = 1982-1984 )
Calculate the real earnings (based on base year 1982-1984 ) of both Petty and Earnhardt.
Between 1947 and 2011,
A) Exports decreased and imports decreased. B) Exports and imports increased. C) The current account surplus rose. D) The current account deficit fell.