If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do
in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016?
A) The BLS will not change the growth rate of productivity.
B) The BLS will adjust the growth rate downwards.
C) The BLS will adjust the growth rate upwards.
D) The BLS will adjust the level of labor productivity upward and the growth rate downward.
B
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If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money?
A) 1 year and 3 months B) 2 years and 6 months C) 8 years D) 8 years and 9 months
According to supply-side economists, lowering corporate income taxes:
A. results in wage hikes for employees but no economic growth. B. moves society toward greater income equality. C. checks the expansion of real GDP and employment. D. stimulates investment and economic growth.
The data in the table show the marginal costs and marginal benefits to a city for five different levels of pollution control.Quantity of Pollution AbatementMarginal CostMarginal Benefit900 tons$400,000$100,000800 tons300,000150,000700 tons200,000200,000600 tons100,000250,000500 tons50,000300,000Refer to the above table. What would cause the optimal level of pollution abatement to be 600 tons?
A. An increase in marginal benefits by $200,000 at each level. B. An increase in marginal costs by $150,000 at each level. C. A decrease in marginal costs by $150,000 at each level. D. A decrease in marginal benefits by $100,000 at each level.
The primary advantage to selling pollution permits rather than using a fixed percent reduction for all firms is that:
A. the government can raise additional revenue. B. pollution is driven to zero. C. enforcement costs are eliminated. D. pollution reduction is accomplished in the least costly way possible.