The total benefits to society from pollution abatement
A) increase at an increasing rate with the increase of pollution abatement.
B) increase at a decreasing rate with the increase of pollution abatement.
C) decrease at an increasing rate with the increase of pollution abatement.
D) decrease at a decreasing rate with the increase of pollution abatement.
B
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If one U.S. dollar could be exchanged for one Australian dollar in 1970, and one U.S. dollar can now be exchanged for 0.98 Australian dollars, which of the following is true?
A) The U.S. dollar gained value against the Australian dollar. B) The Australian dollar lost value against the U.S. dollar. C) The Australian dollar gained value against the U.S. dollar. D) Both A and C are true.
The Apple iPhone is sold in a box labeled "Made in China," but a study by economists at the Asian Development Bank found that the actual percentage of the price of the iPhone accounted for by the only work done in China, which is assembly, is
A) 4 percent. B) 12 percent. C) 25 percent. D) 65 percent.
If regulators force a natural monopoly to price as a perfectly competitive firm would, the natural monopolist
A) will earn higher economic profits. B) will earn an economic loss. C) will expand its output. D) will experience a rise in long-term average costs.
Assume that full-employment national income is Y = $1,200 billion, the current equilibrium national income is Y = $800 billion, and the MPC is 0.5 . What level of aggregate expenditure will close the recessionary gap?
a. $50 billion b. $80 billion c. $140 billion d. $200 billion e. $400 billion