If the MB of polluting increased, then what would happen to the optimal level of pollution?
A. Unsure
B. Stay the same
C. Increase
D. Decrease
Answer: C
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A firm's producer surplus equals its:
A. profit less its avoidable costs. B. revenue less its avoidable costs. C. profit less sunk costs. D. revenue less sunk costs.
All else equal, if there are diminishing returns, then what happens to productivity if both capital and labor increase?
a. Productivity will definitely fall. b. Productivity will definitely be unchanged. c. Productivity will definitely rise. d. None of the above are necessarily correct.
If the central bank keeps the money supply growth rate constant, but people raise their inflation expectations by 1 percentage point, then the short-run Phillips curve shifts
a. right and the unemployment rate rises. b. right and the unemployment rate falls. c. left and the unemployment rate rises. d. left and the unemployment rate falls.
Use the following table to answer the question below. Jane's Production Possibilities SchedulePounds of Green BeansPounds of Corn08020604040602080 0Jane's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 2 B. 4 C. 1/2 D. 1