According to the textbook application about Catano, Puerto Rico, the primary source of the severe air pollution in that city was identified to be
a. a nearby oil refinery
b. two large electrical power plants
c. large 18-wheelers transporting goods from nearby docks
d. a sewage sludge incinerator
b. two large electrical power plants
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The flypaper theory of tax incidence
a. ignores the indirect effects of taxes. b. assumes that most taxes should be "stuck on " the rich. c. says that once a tax has been imposed, there is little chance of it changing, so in essence people are stuck with it. d. suggests that taxes are like flies because they are everywhere and will never go away.
Assuming the interest rate is 5 percent, which of the following has the greatest present value?
a. $240 paid in three years b. $225 paid in two years c. $210 paid in one year d. $200 today
In this graph, what has changed from equilibrium level E1 to equilibrium point E3?
a. Output has increased.
b. Output has decreased.
c. Price level has increased.
d. Price level has decreased.
Most students attending college pay tuition and are unable to hold a full-time job. For these students, tuition is
A) part of the opportunity cost of going to college. So are their forgone earnings from not holding a full-time job. B) part of the opportunity cost of going to college. Their forgone earnings from not holding a full-time job are not part of the opportunity cost of attending college. C) not part of the opportunity cost of going to college, but their forgone earnings from not holding a full-time job are part of the opportunity cost of attending college. D) not part of the opportunity cost of going to college. Neither are their forgone earnings from not holding a full-time job.