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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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.
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.