A positive economic statement:
a. contains personal and social value judgments.
b. is always a mathematical expression.
c. should never be used by an economist.
d. is proper provided the advocator is clear the position rests on personal assessment.
e. is an unbiased report of the facts of the economy.
e
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Which of the following statements is false? An economic analysis of carbon taxes can:
A. predict the effect on unemployment in West Virginia coal mining communities. B. conclude that such taxes should be imposed to benefit future generations. C. present a trade-off of the costs and benefits of different levels of carbon taxes. D. calculate the increase in costs faced by coal-using industries. compare the likely reductions in medical expenditures on diseases caused by smog.
You observe that the demand for pomelo is given byQd = 5,000-10Pand the supply of pomelo is given byQs = 1,000 + 30P. What is the market equilibrium for pomelo?
A. P = 500, Q = 16,000 B. P = 200, Q = 3,000 C. P = 100, Q = 4,000 D. P = 50, Q = 2,500