Roughly what was the median level of household income in the U.S. in 2012?
a. 50,000
b. 60,000
c. 70,000
d. 80,000
a
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The current U.S. average tariff rate is
A) less than 5 percent. B) greater than 10 percent. C) approximately 20 percent. D) over 50 percent.
The table above shows three production methods to produce 100 automobiles per day. If the price of labor is $20 per unit and the price of capital is $100 per unit, which of the three methods is economically efficient?
A) Method A only B) Method B only C) Method C only D) All three methods are economically efficient.
Financial intermediaries emerged
A) to make loans to governments. B) to provide a market for municipal bonds. C) to reduce transactions costs for small savers and borrowers. D) to reduce transactions costs for traders in stocks and bonds.
Based on this model, it is apparent that there is a
Use thefollowing information for any or all of Questions 16 through 18. Suppose the marginal benefits and marginal costs of tire production in the U.S. are modeled as follows, where Q is in millions: MSB = 12 – 0.4Q MPB = 12 – 0.3Q MSC = MPC = 2 + 0.1Q a. negative production externality b. positive external benefit c. consumption externality measured as MEB = – 0.1Q d. negatively sloped MEC function