The world's leading exporting nation is _____________; the nation with the largest trade deficit is _______________.
Fill in the blank(s) with the appropriate word(s).
China; the United States
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Kate's Great Crete (KGC) is a local monopolist of ready-mix concrete. Its annual demand function is Q = 20,000 - 400P, where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. What is KGC's marginal revenue when it sells 5,000 cubic years of concrete per year?
A. $37.50 B. $25.00 C. $50.00 D. $0.00
Appendix: In comparing rules for serving a queue, last-come first-served has all of the following effects except
a. reduces the waiting time b. causes few customers to arrive and depart more than once c. increases the side payments among those yet to be served d. hastens the adoption of a lottery system for deciding who should get the tickets
Tennessee emits sulfur dioxide that flows into North Carolina. In meeting sulfur emissions regulations, the Tennessee Valley Authority (TVA), which produces electricity, buys sulfur emission permits from Wyoming. The resulting hot spot problem is:
a. The citizens of Wyoming will experience higher sulfur emissions as a result of the emissions trading program. b. The citizens of Wyoming will experience lower sulfur emissions as a result of the emissions trading program. c. The citizens of Tennessee will pay more to reduce sulfur emissions than if the government used a command-and-control approach. d. The citizens of North Carolina will suffer higher emissions as a result of the emissions trading program.
Deflation is a:
A. sustained fall in the aggregate price level. B. sustained increase in the aggregate price level. C. steady, unchanging aggregate price level. D. steady fall in the exchange rate.