Refer to Scenario 17.2. If the threshold educational level y* is set at 13 1/3,
A) only individuals in Group K will attain it.
B) only individuals in Group M will attain it.
C) individuals in both groups will attain it.
D) no individuals will attain it.
E) some fraction of individuals in each group will attain it.
C
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Why is the government budget constraint different between the short run and the long run?
What will be an ideal response?
A carbon tax placed on a fossil fuel:
A. is a pollution tax based on the carbon content of the fuel. B. is a form of marketable pollution permit. C. is often used in conjunction with command-and-control carbon policies. D. will not change the price of the fossil fuel taxed.
A rational individual would be indifferent between ________ today and ________ four years from today if the interest is 20 percent
A) $100, $100 B) $48, $100 C) $30, $100 D) $100, $48
Marginal cost
A. equals the slope of the total cost curve. B. is calculated as DTC/DQ. C. is the increase in total cost resulting from a one-unit increase in output. D. All of the responses are correct.