The dawning of the computer age in the latter part of the 20th century created a new and massive growth spurt in the United States that illustrates what some economists describe as the
a. real growth theory
b. accelerator phenomenon
c. start of an innovation cycle
d. interaction of the multiplier and accelerator
e. Adam Smith economic growth theory
C
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The tables above show the marginal costs and benefits from production of paper. The efficient level of output is ________ of paper
A) 1,600 tons B) 2,400 tons C) 3,200 tons D) 4,000 tons
The values of real GDP and real GNP are almost the same for the United States
Indicate whether the statement is true or false
Refer to the above figure. Demand is
A) perfectly elastic. B) unitary elastic. C) perfectly inelastic. D) undetermined without more information.
Many states charge a 10-cent deposit on every can of soda sold. A purchaser pays an extra 10 cents per can and will get his or her money back by returning the empty can to a store. This policy encourages recycling by
A. lowering the willingness to pay for recycling materials. B. shifting in the demand curve for canned soda. C. raising the opportunity cost of discarding empty cans. D. taxing the production of canned soda.