The Drinking Water State Revolving Fund (DWSRF)
a. was established under the Safe Drinking Water Act of 1974
b. received no additional funding from the American Recovery and Reinvestment Act
c. initially authorized $1 billion per year for infrastructure improvements
d. all of the above
c. initially authorized $1 billion per year for infrastructure improvements
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In the standard consumption function of C = a + bY, the MPC is
A) Y. B) bY. C) a. D) b.
Which of the following is not a market failure?
a. A lack of competition in some markets. b. Prices determined in competitive markets, which consumers, as individuals, have no control over. c. The presence of externalities in some markets. d. A lack of public goods desired by a majority of citizens. e. Income inequality.
People who call for creating a "level playing field" believe that:
a. a country with relatively low wages is typically a country with an abundance of low-skilled labor. b. trading on the basis of comparative advantage benefits both domestic and foreign firms. c. creating a "level playing field" undermines the basis for specialization and economic efficiency. d. production in accordance with comparative advantage is unfair. e. free trade allocates the scarce resources in an efficient way.
If the dollar depreciates against the yen, U.S. goods sold in ________ would become less expensive and Japanese goods sold in ________ would become more expensive.
A. the United States; the United States B. the United States; Japan C. Japan; Japan D. Japan; the United States