A new U.S. import quota on imported steel would be likely to:
a. reduce the cost of production to steel-using American firms.
b. generate tax revenue to the government
c. increase U.S. production of steel.
d. increase the production of steel-using American firms.
c
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Refer to the above figure. Suppose the economy is at E originally, when the dollar increases in value. Which aggregate supply curve applies if the value of real GDP increases?
A) 1 B) 2 C) 4 D) 5
An example of a negative externality is: a. the benefit you receive when your neighbor installs a smoke detector
b. the reduction in profits for your company that occurs when there is a decrease in consumer demand for the product you manufacture. c. the sleep you lose when your neighbor throws a loud party next door that keeps you awake. d. the change in the property values of your neighbors' homes when you paint your house and landscape your front yard
Refer to the graph shown. The output range in region c is associated with:
A. constant returns to scale. B. diminishing marginal productivity. C. economies of scale. D. diseconomies of scale.
A carbon tax would increase the total volume of greenhouse gases.
Answer the following statement true (T) or false (F)