Short-run fluctuation in economic activity
What will be an ideal response?
business cycle
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Define capital. Explain the relationship between investment and capital
What will be an ideal response?
The "greenhouse effect" is predicted to
a. lead to the next ice age. b. raise global temperature. c. pollute the oceans. d. break the edifice complex by the turn of the century.
Refer to the data provided in Table 16.2 below to answer the following question(s).Table 16.2 shows the situation facing two firms, both of which are polluting. Assume that each firm emits 5 units of pollution.Table 16.2Firm AFirm AFirm AFirm BFirm BFirm BReduction of Pollution by Firm AMC of reducing pollution for Firm ATC of reducing pollution for Firm AReduction of Pollution by Firm BMC of reducing pollution for Firm BTC of reducing pollution for Firm B1$1$11$8$82 3 4212203 6103163641020420565153552480Refer to Table 16.2. Suppose the government wants to reduce the total amount of pollution from the current level of 10 to 4. To do this, the government caps each firm's emissions at 2 units and issues 2 permits to each firm. If firms are allowed to trade permits, what is the
total cost of the pollution reduction? A. $24 B. $40 C. $43 D. $81
Refer to the given information. This labor supply curve demonstrates that:
Answer the question on the basis of the following supply information facing a single firm in a particular labor market:
A. the firm is selling its output under imperfectly competitive conditions.
B. the firm is selling its output under purely competitive conditions.
C. higher wage rates must be paid to successive workers to overcome their higher opportunity costs.
D. the firm is hiring labor under purely competitive conditions.