Which of the following statements about the economically efficient level of air pollution is correct?
A) The economically efficient level of pollution occurs where the marginal cost of pollution reduction equals the marginal social benefit of reduction.
B) The economically efficient level of pollution occurs where total benefits of pollution reduction are maximized.
C) The economically efficient level of pollution is zero.
D) The economically efficient level of pollution occurs where all social costs equal all social benefits.
A
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All of the following are reasons why China is unlikely to maintain high enough rates of productivity growth to catch-up with the standard of living in the United States except
A) because of the low birth rate in China, the labor force will soon decline. B) much of China's growth is likely due to the transition from a centrally-planned economy to a market economy. C) the Chinese migration of rural workers to more productive urban jobs. D) the United States invests more in research and development. than does China.
At any point below the current IS curve, there is an
A) excess demand for goods. B) excess supply of goods. C) excess demand for money. D) excess supply of money.
Which of the following stock price indexes is a price-weighted index?
A. Nasdaq B. Wilshire 5000 C. Standard & Poor's 500 Index D. Dow Jones Industrial Average
The supply and demand model assumes
A) no buyer or seller can unilaterally influence the price of the product. B) each unit sold is sold at the same price. C) suppliers and demanders know the price of the product. D) All of the above.