The number of pre- and post-policy visitors, V1 and V2, (in thousands) is ____ and _____, respectively.
A collaborative federal and state program has been proposed in response to acid rain damagein Newport Bay, Maryland. To estimate the incremental benefits of the program, you use thetravel cost methodbasedupon the following pre- and post-policy recreational demand functions:
Pre-policy: P = 62 – 0.02V1 Post-policy: P = 80 – 0.02V2,
where V is the number of visitors (in thousands) and P is the admission fee. Assume the admission fee is set at $20 per visitor.
a. 2,100; 3000 c. 61.6; 79.6
b, 44,100; 90,000 d. none of the above
a. 2,100; 3000
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Which of the following countries does not employ a value-added tax at the national level?
a. France b. German c. United States d. Canada
An investment will pay $2,000 half of the time and $1,400 half of the time. The standard deviation for this investment is:
A. $300. B. $90,000. C. $1,700. D. $30.
Efficiency is defined as
A. the production of output at minimum cost. B. the most profits for companies. C. the production of goods and services. D. the maximum consumption of goods.
One of the potential consequences of the public debt is that it may:
A. Make income distribution more equitable B. Increase the debt burden of foreign creditors C. Lead to additional future taxes that reduce economic incentives D. Decrease interest rates and increase investment spending