Suppose that initially there is no public debt. Using the above table, what is the public debt as a percentage of GDP in Year 3?

________ played a large role is removing lead from the atmosphere in the United States

A) Pigovian taxes B) The Coase Theorem C) Emissions charges D) Marketable permits

An agricultural corn market faces a positive supply shock due to a beneficial rainy season and the use of new genetically modified seeds. As a result, farmers face the largest crop harvest in decades. Which answer below explains how a farm could actually go bankrupt under this scenario

A) The elasticity of supply for corn is elastic such that a positive shock reduces total revenue. B) The demand for corn is inelastic such that a positive supply shock reduces total revenue. C) An inelastic demand curve will cause revenue to fall because price decreases by more than the increase in quantity demanded. D) B and C