Primary sources of SO2 emissions are
a. fossil-fuel burning power plants and refineries
b. heavy-duty trucks and buses
c. light-duty trucks and automobiles
d. commercial aircraft
a. fossil-fuel burning power plants and refineries
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The profits of a proprietorship are
A) taxed at the same rate as the owner's other personal income. B) subject to a corporate tax. C) taxed as capital gains indexed for inflation. D) exempt from taxation.
A production function may exhibit:
a. constant returns to scale and diminishing marginal productivities to all inputs. b. constant returns to scale and diminishing marginal productivities to all but one input, but at least one input must have a constant marginal productivity. c. constant returns to scale and diminishing marginal productivity to at most one input. d. constant returns to scale and diminishing marginal productivities for no inputs.
Answer the following questions true (T) or false (F)
1. Consumer surplus is the difference between the highest price someone is willing to pay for a product and the price he actually pays for the product. 2. Producer surplus is the difference between the lowest price a firm is willing to accept for a product and the price it actually receives for the product. 3. The total amount of consumer surplus in a market is equal to the area below the demand curve.
If C = 1,500 + 0.75Y and I = 500, then planned saving equals planned investment at aggregate output level of
A. 2,666.67. B. 8,000. C. 10,000. D. 20,000.