Identify and briefly explain two economic incentives that would encourage firms to research and implement “design for recycling” programs.
What will be an ideal response?
subsidies for researching such issues as identifying recyclable materials or devising better methods for sorting plastics, or federal grants for appropriate capital investment in recycling or sorting equipment, or tax deductions for designated expenditures on dismantling, recovery, recycling, or sorting.
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If average labor productivity increases, real GDP per person:
A. increases. B. decreases. C. may increase or decrease depending on the change in the share of population employed. D. remains constant.
An estimated demand curve does NOT necessarily match actual data perfectly because
A) it is not possible to accurately calculate the coefficients of the curve. B) some factors that are not measured or observed may affect the curve. C) the random error term has too large of a range. D) demand is unpredictable.
A short-run production function was estimated asQ = ?0.002L3 + 0.16L2At 20 units of labor, what is marginal product?
A. 1.9 B. 6.3 C. 6.0 D. 2.4 E. 4.0
During a period of rapid economic expansion an economy might experience
A. increased transfer payments. B. reduced tax revenues. C. demand-pull inflation. D. low levels of employment.