Taco Bell opens a branch in Iceland. The sales of the restaurant enter the U.S. GNP and the Icelandic GDP.
Answer the following statement true (T) or false (F)
True
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If MSC = 20 + 0.75A, where MSC is in millions of dollars, and A is the percentage of mercury emissions abatement, then
a. the total social costs of abatement equal $184 million when A is 8 percent b. the TSC at an abatement level of 10 percent is $27.5 million c. a 40 percent abatement level is associated with MSC of $30 million and TSC of 20 million d. TSC cannot be determined at any abatement level
The term "price supports" refers to a
a. shortage. b. surplus. c. price ceiling. d. price floor.
Based on the demand and marginal revenue curves for the monopolist, which formula is correct?
a. marginal revenue > price
b. marginal revenue < price
c. marginal revenue = price
d. marginal revenue – price = average revenue
Which of the following are policy instruments available to the Fed as it tries to achieve its macroeconomic goals?
i. government expenditure on goods and services and taxes ii. the government budget deficit or surplus iii. changes in the federal funds rate A) iii only B) ii and iii C) ii only D) i and ii E) i and iii