Answer the following statement true (T) or false (F)
1) Energy demand is relatively stable over the course of a day.
2) Electricity generating plants with low fixed costs tend to have high operating costs.
3) In electricity generation, it is most economically efficient to use a single energy source.
4) About two-thirds of U.S. electricity is generated at coal and gas plants.
1) F
2) T
3) F
4) T
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Cigarette taxes are viewed as _____
a. regressive b. progressive c. proportional d. non-distortionary
A demand curve usually has a
a. negative slope because price and quantity demanded are inversely related b. negative slope because as price rises, demand falls c. positive slope because price and quantity demanded are positively related d. positive slope because price and quantity demanded are inversely related e. slope of zero because there is no change along a demand curve when everything else is held constant
Critics of targeting a zero inflation rate believe that achieving zero inflation is almost impossible and the costs are too high
a. True b. False Indicate whether the statement is true or false
If the marginal product of labor is positive and increasing, then the total product of labor curve is
a. constant b. upward sloping and becoming steeper c. downward sloping and becoming flatter d. lies above the total cost curve e. lies below the total cost curve