Since 1990, the aggregate emissions of criteria air pollutants have decreased 59 percent despite
a. population increasing 24 percent.
b. gross domestic product (or aggregate production in the USA) increasing 65 percent.
c. vehicle-miles traveled increasing 40 percent.
d. energy consumption increasing 15 percent.
e. All of the above.
f. None of the above.
Ans: e. All of the above.
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Suppose that the marginal propensity to save (MPS) equals 0.8. The value of the multiplier would be
A) 0.2. B) 0.8. C) 1.25. D) 5.0.
A bottle of wine costs $8 and a quiche costs $5. At Robert’s present levels of consumption, he spends all his income and receives marginal utility of $10 from the last bottle of wine and marginal utility of $4 from the last quiche. To maximize his total utility, Robert should
A. buy less wine and more quiche. B. buy more wine and less quiche. C. spend all of his money on wine. D. change his spending pattern until he buys 8/5ths as much wine as quiche.
A firm that maximizes profits also
A) is inefficient. B) cuts corners in production processes so that its products are made too cheaply. C) uses the least-cost combination of resources. D) pays input prices lower than other firms do.
Provide an example of how a bank achieves lower cost in making a large loan to a company than could be achieved without the bank.
What will be an ideal response?