Suppose Michigan’s NOX abatement standard for existing (E) sources is 4 units and the EPA's standard for new (N) sources is 10 units and that MACE = 1.8AEand MACN = 1.2AN. To meet the same combined abatement level of 14 but in a cost-effective manner, the standards for each should be
a. AE = 7; AN = 7 c. AE = 5.6; AN = 8.4
b. AE = 4.8; AN = 7.2 d. none of the above
c. AE = 5.6; AN = 8.4
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There is a ________ association between inflation and the growth rate of money ________
A) positive; demand B) positive; supply C) negative; demand D) negative; supply
You lend a friend $10,000 for a year. At the end of the year your friend agrees to pay you $10,700. The interest rate on this loan is
A. 0.07%. B. 7.00% C. 107%. D. indeterminate from this information.
Markets are generally more effective at providing ________ and governments are most effective at providing ________
A) pure public goods; common pool resources B) pure private goods; pure public goods C) common pool resources; club goods D) club goods; pure private goods
Systematic overestimation or underestimation of inflation will
a. occur under rational expectations but not under adaptive expectations. b. occur under adaptive expectations but not under rational expectations. c. occur under both rational and adaptive expectations. d. not occur under either rational or adaptive expectations.