Relating to the Economics in Practice on page 340: Europe has a carbon tax, and electricity producers are among the largest of the carbon producing firms. The carbon tax increases the costs of the electricity producers, which will shift the ________ curve in the electricity market to the ________.
A. demand; right
B. demand; left
C. supply; right
D. supply; left
Answer: D
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If the final expressions in a present value equation used to calculate the price of a bond you are considering buying are "[$50 / (1 + .08)3] + [$500 / (1 + .08)3]," which of the following is correct?
A) The face value is $500, the coupon is $50, and the coupon will mature in 3 years. B) The face value is $50, the interest rate you need is 8 percent, and the coupon will mature in 3 years. C) The coupon is $50, the interest rate you need is 1.08 percent, and the coupon will mature in 3 years. D) The face value is $500, the interest rate you need is 3 percent, and the coupon will mature in 8 years.
Social welfare functions require that a society has at least three people living in it.
A. True B. False C. Uncertain
Major economies around the world, such as the U.S. and Great Britain, are largely independent of one another, and thus their economic fluctuations bear little relationship to one another
Indicate whether the statement is true or false
Refer to the information provided in Table 8.4 below to answer the question(s) that follow. Table 8.4ProduceUsing TechniquesUnits of Variable KInputs L1 unit of outputA4 4?B2 6????2 units of outputA 7 6?B410????3 units of outputA 8 6?B 6 11Refer to Table 8.4. Assuming the price of capital (K) is $10 per unit and the price of labor (L) is $5 per unit, the firm will use production technique ________ to produce ________ of output.
A. B; the first two units of output and production technique A to produce the third unit B. B; all three units C. A; the first unit and production technique B to produce the second and third units D. A; all three units