For the best indication of the material standard of living of the typical person in society, focus should be placed on
A) real GDP.
B) nominal GDP.
C) real GDP per capita.
D) nominal GDP per capita.
C
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Now suppose that the firm is contemplating the use of a new abatement (AN) technology, which would generate the following cost functions: TACN = 1000 + 0.125(AN)2 MACN = 0.25(AN) Find the cost savings to the firm of using this new technology when faced with the emission charge.
Consider the following abatement cost functions (TACO andMACO) for a firm using an old abatement (AO) technology: TACO = 1000 + 0.25(AO)2 MACO = 0.5(AO), where A isunits of abatement undertaken by the firm, and the cost values are in thousands of dollars. Further assume that the regulatory authority has set an abatement standard (AST) equal to 40 units for each firm and has proposed an emission charge implemented as a constant per unit tax (t) of $10 (i.e., MT = 10), where Total Tax = t(AST – Ai), and Ai is the existing abatement level.
The table above shows four methods for producing 10 computer desks a day. If the cost of a worker is $50 a day and the cost of capital is $150 a day, ________ economically efficient
A) method A is B) method B is C) method D is D) method A or C is
The new Keynesian economists believed that:
a. wages and prices are flexible in the short run. b. wages are flexible but prices are not flexible in the long run. c. wages are not flexible but prices are flexible in the short run. d. wages and prices are not flexible in the short run. e. wages and prices are not flexible in the long run.
When the price of Good X increases by 10 percent, the quantity demanded of Good Y increases by 25 percent. The cross elasticity between these two goods is
A. 0.4 and they are complements. B. 2.5 and they are complements. C. 0.4 and they are substitutes. D. 2.5 and they are substitutes.