The optimal pollution level is found where the marginal social benefit of polluting equals the marginal social cost of polluting.
Answer the following statement true (T) or false (F)
True
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The balanced-budget multiplier is equal to the
A) the autonomous spending multiplier. B) government spending multiplier plus the tax multiplier. C) simple multiplier minus the tax multiplier. D) government spending multiplier plus the simple multiplier.
If a country experiences a real GDP growth rate of 4 percent, real GDP will double in
A) 14 years. B) 23.3 years. C) 25 years. D) 35 years. E) 17.5 years.
If you pay $400 in taxes when you earn $10,000 and $600 in taxes when you earn $12,000, you are subject to a marginal tax rate of
A) 4%. B) 5%. C) 6%. D) 8%. E) 10%.
The difference between the total willingness to pay for a good and the amount actually spent measures:
A) the total benefits from consuming the good. B) the net gain from the production and consumption of the good. C) the amount by which producers are better off, i.e., producers' surplus. D) the amount by which consumers are better off, i.e., consumers' surplus.