Recall the Application about reducing pollution generated from international shipping to answer the following question(s).Recall the Application. Of the following CO2 reduction methods for international shipping, which has the lowest marginal abatement cost (MAC)?
A. weather-sensitive routing
B. switching from diesel to gas-powered engines
C. reducing speed and increasing fleet size
D. installing fixed sails and wings
Answer: A
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The real business cycle model focuses on how
A) the labor theory of value is the best measure of value of a good or service. B) productivity shocks explain fluctuations in real GDP. C) wage and price stickiness explains fluctuations in real GDP. D) the Federal Reserve should adopt a monetary growth rule.
Critically evaluate the following statement. "Short-run costs curves must be downward-sloping because after all labor is increasingly more productive."
What will be an ideal response?
Fundamentally, economics is concerned with:
a. how scarce resources are allocated to satisfy limited wants. b. how limited resources are allocated to satisfy scarce wants. c. how limited resources are allocated to satisfy unlimited wants. d. how limited wants can be used to satisfy limited resources.
Which of the following is not an impure public good?
a. a full movie theatre b. a fairly congested highway c. a swimming pool at ninety percent capacity d. the average major league baseball game in early April