For which of the following projects would it likely be most difficult to acquire 1,000 acres of land?
A) growing wheat
B) building an amusement park
C) building storage sheds
D) digging wells
B
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The Ricardo-Barro effect holds that
A) equal increases in taxes and government expenditures have no effect on equilibrium real GDP. B) government budget deficits have no effect on the real interest rate. C) a government budget deficit crowds out private investment. D) a government budget deficit induces a decrease in saving that magnifies the crowding out effect.
The economic functions of government differ from the political functions of government in that
A) the economic functions are carried out by the federal government, while the political functions are carried out by state and local governments. B) the economic functions include policies that affect income redistribution, while the political functions involve things that affect the way exchange is carried out. C) the economic functions involve things that affect the way exchange is carried out while the political functions include policies that affect income redistribution. D) the economic functions are carried out by state and local governments, while the political functions are carried out by the federal government.
Which of the following is NOT an example of a command-and-control regulation to limit pollution?
A. Fuel economy standards for all new cars B. A 50-cent tax on gasoline C. Mandating the use of catalytic converters on all new vehicles D. A ban on leaded gasoline
OutputTotal Cost0$24133241348454561669Refer to the above data. The marginal cost of producing the 6 unit of output is:
A. $8. B. $24. C. $16. D. $12.