How much pollution should be cleaned up can be found where the marginal benefits of additional reduction of pollution _____.
a. is less than the marginal cost of reducing the additional pollution.
b. equals the marginal cost of reducing the additional pollution.
c. equals the average cost of reducing the additional pollution
d. is greater than the marginal cost of reducing the additional pollution.
d. is greater than the marginal cost of reducing the additional pollution.
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In the DMP model,
A) Firms maximize profits. B) Firms determine how much effort they should put into filling job vacancies. C) Firms decide whether or not to enter the labor market by posting vacancies. D) Firms decide whether or not to retain or fire workers.
Money is any commodity or token that
A) is naturally accepted by households to accumulate wealth. B) is backed up and controlled by the government. C) does not change in value over time. D) is generally accepted as a means of payment. E) is backed by gold.
The unemployment rates during the last 10 years in the Eurozone was
A) constantly lower than the unemployment rate in the United States and not rising toward the U.S. unemployment rate. B) constantly lower than the unemployment rate in the United States but were rising toward the U.S. unemployment rate. C) more or less constant at 3 percent. D) generally higher than the U.S. unemployment rate. E) approximately equal to those in the United States, with some years the U.S. unemployment rate being slightly higher and in other years the U.S. unemployment rate being slightly lower.
If the federal government increases the amount of Social Security benefits for retired persons, then the
A. consumption schedule will shift upward. B. aggregate demand curve will shift outward. C. effect on equilibrium GDP will be the same as a cut in taxes. D. All of the above are correct.