All economic questions arise from the fact that resources are unlimited
Indicate whether the statement is true or false
FALSE
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If the state enacts the emission charge, find the associated cost savings to the firm, assuming the use of the old technology.
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.
Fed policies since the mid-1980s have been intended to
A) steepen the growth path of natural real GDP. B) taper down the growth rate of actual real GDP as it approaches natural real GDP. C) accelerate the growth rate of natural real GDP whenever actual real GDP exceeds it. D) use the "runway" of natural real GDP as a springboard to faster growth.
The additional revenue received by a firm from selling one more unit of output is known as
a. total revenue b. price c. average revenue d. marginal cost e. marginal revenue
Your text mentions several ways that international trade flows are qualitatively different than they were a century ago. Which of the following is NOT one of those ways?
A) Firms' investment spending on capital goods is more important than in the past. B) International trade in raw commodities and agricultural products is more important than it was in the past. C) It is possible to trade some types of services in a way that was not possible in the past. D) Multinational corporations play a bigger role in production than they did in the past.