The largest goods exports of the United States (in dollar volume, 2012) are:
A. energy products, agricultural products, metals, and chemicals.
B. petroleum, automobiles, clothing, and household appliances.
C. iron and steel, clothing, beef, and sugar.
D. aircraft, glassware, television sets, and furniture.
A. energy products, agricultural products, metals, and chemicals.
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When producing a good creates pollution, an external cost, and the government imposes a tax equal to the marginal external cost, then
A) the amount of output moves farther away from the efficient amount. B) transaction costs will be high. C) the efficient amount of the good will be produced. D) property rights must have already been established.
Consider the above figure. The equation for the saving function is
A) S = 40 - 0.67 Yd. B) S = 40 + 0.33 Yd. C) S = -40 + 0.67 Yd. D) S = -40 - 0.33 Yd.