Which of the following describe the benefits and costs of the Clean Air Act from 1970 to 1990?
a. benefits: $22 trillion; costs: 44 times greater than benefits
b. benefits: $500 trillion; costs: $22 trillion
c. benefits: $22 trillion; costs: $500 billion
d. benefits: 44 times less than costs; costs: $500 billion
c. benefits: $22 trillion; costs: $500 billion
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The Council of Economic Advisers have found that skilled immigrants in the U.S. do all of the following, except:
A. Boost the technical capabilities of U.S. firms B. Pay less in taxes than they absorb in government services C. Make major innovative contributions in science, medicine, and engineering D. Augment the supply of health-care providers in the U.S.
The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$58544643343222211 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be
A. 900. B. 1,500. C. 600. D. 200.
Suppose a perfectly competitive firm, which is initially in long-run equilibrium experiences a decrease in the wages it must pay its employees. In the short run, which of the following will occur?
A) ATC will shift up and MC will shift down, causing the firm to incur a loss. B) ATC will shift down and MC will shift up, causing the firm to earn a positive economic profit. C) ATC and MC will shift down, causing the firm to earn a positive economic profit. D) ATC and MC will shift up, causing the firm to incur a loss.
Along an LM curve at higher income levels the transactions demand for money is __________, so the interest rate must be __________ to equate the demand to the fixed supply of money
A) higher; higher B) higher; lower C) lower; higher D) lower; lower