What would be the profits for Irene's Dairy in equilibrium?
a. 5 million loss
b. 5 million
c. 10 million
d. 20 million
b
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Answer the following statement(s) true (T) or false (F)
1. Contaminants such as pollen and salt spray are known as anthropogenic pollutants. 2. Prior to the 1950s, all air quality laws in the United States had been enacted at the state and local levels of government. 3. The first federal air pollution legislation was the Clean Air Act of 1963. 4. One of the hallmarks of the 1990 Clean Air Act Amendments is its integration of market-based policy instruments, such as the use of tradeable allowances to control emissions. 5. The Clean Air Interstate Rule (CAIR), which was part of the 2004 Clean Air Rules, was considered to be the most important environmental initiative enacted by the Bush Administration.
Suppose that firms find that their inventories are less than planned. In this case, what is the initial relationship between aggregate planned expenditure and real GDP? Using the aggregate expenditure model, what adjustments, if any, take place?
What will be an ideal response?
A growing government budget deficit and national debt reduces economic growth because
A) it insures that future generations will have to pay the debt. B) it reduces public investment. C) it reduces household saving. D) it diverts private savings from the financing of private investment.
In the balance of payments, if there are no statistical errors or discrepancies, which of the following is TRUE of the sum of the capital account balance, the current account balance, and the official reserve transactions account balance?
A) This sum is either positive or negative, depending on whether the sum of all surplus and deficit items associated with cross-border transactions is positive or negative. B) This sum must always be zero, because the sum of all surplus and deficit items associated with cross-border transactions must equal zero. C) This sum is positive only if the U.S. government operates with a budget surplus. D) This sum is positive only if the U.S. government operates with a budget deficit.