The estimated incremental benefits (in thousands of dollars) associated with this new policy are
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 b. 44,100 c. 90,000 d. 45,900
d. 45,900
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In Figure 9.6, if full employment occurs at QC, then aggregate demand is
A. Too small, causing cyclical unemployment. B. Too small, causing demand-pull inflation. C. Too great, causing cyclical unemployment. D. Just right.
Sweep accounts which were created to avoid reserve requirements became possible because of a change in
A) deposit ceilings. B) technology. C) government rules. D) bank mergers.
Which of the following is true for the period from Independence to 1860?
(a) The system of indentured servitude died out because it was seen to be immoral and inconsistent with the Constitution. (b) The system of slavery flourished because the relative price of slaves fell consistently. (c) The system of wage labor flourished as immigrant labor poured into the newly opened western lands. (d) European immigrants typically shunned agricultural labor as their ticket to the good life.
Measured as a share of national income, government expenditures on income transfers during the last 70 years have
What will be an ideal response?