In general, a society will benefit more, the more interdependent it is
a. True
b. False
A
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Use the following information to answer the question below. It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, operators of hydroelectric power-generating plants downstream along the river find that they must clean up the river's water before it flows through their equipment. In the situation described above, we would expect an
A. underproduction of paper in the mills. B. overproduction of paper in the mills. C. attainment of allocative efficiency in the market. D. external cost resulting from the production of hydroelectric power.
Assume the marginal propensity to consume (MPC) is 0.75 and the government cuts taxes by $250 billion. The aggregate demand curve will shift to the:
a. right by $1,000 billion. b. right by $750 billion. c. left by $1,000 billion. d. left by $750 billion.
Suppose the demand for roses increases from 500 to 600 stems when income rises from $10,000 to $20,000. Income elasticity for roses is:
A. 0.27. B. 0.02. C. 2. D. 3.6.
The Danish currency, the krone, is pegged to the euro at a rate of 7.46 kroner (kroner is the plural of krone) to the euro. At the pegged exchange rate, how many euros would be exchanged for one krone?
A) 0.07 B) 0.13 C) 1.76 D) 7.46