The process of examining the numbers and determining what they mean, what the past was, and what the future will be for a company or entity is known as
a. finance
b. budgeting
c. economics
d. accounting
e. none of these
a. finance
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What is the difference between real and nominal GDP and why do economists make this distinction?
What will be an ideal response?
Quantify the cost savings associated with a cost-effective abatement allocation achieved through trading.
Suppose two point sources are discharging phosphorus into Wisconsin’sFox River and face the following abatement costs for this pollutant: Point Source 1: TAC1 = 500 + 0.35(A1)2 MAC1 = 0.7A1 Point Source 2: TAC2 = 750 + 1.05(A2)2 MAC2 = 2.1A2, where A1 and A2 represent the abatement of phosphorus effluents in pounds by Source 1 and Source 2, respectively, and TAC and MAC are measured in hundreds of dollars. Assume that the state environmental authority has set the total maximum daily load (TMDL) for the Fox River. To achieve this limit, 40 pounds of phosphorus must be abated across the two point sources. Use this information to answer the following questions.
The difference between income and consumption is
a. rent b. profit c. saving d. opportunity cost e. roundabout consumption
In which market structure is there the greatest degree of mutual dependence between firm in choosing their price and output policies? a. perfect competition
b. monopolistic competition. c. oligopoly. d. monopoly.