According to the EPA’s prospective analysis of the 1990 to 2010 period, total social benefits (TSB) associated with the CAAA of 1990 are estimated at $690 billion ($1990) and the comparable total social cost (TSC) estimates are $180 billion ($1990). Explain why these data do not communicate whether the regulations outlined by the CAAA of 1990 are efficient.

Question 81

1. The actual birth of a baby occurs during the third stage of birth after the placenta is delivered.

   a.

   TRUE

   b.

   FALSE

Question 87

1. A leak in a blood vessel is closed by platelets and fibrin threads that contract.

   a.

   TRUE

   b.

   FALSE

What possible advantages does buying an S&P Index ETF have over buying a similar mutual fund? If you could find a similar closed-end fund, what advantages or disadvantages would trading that fund have?

The input-output (consumption) matrix for a closed economy is given below. Solve the associated input- output model. Use r if you need a variable in your answer. [0.07 0.05 0.27] [0.17 0.48 0.19] [0.76 0.47 0.54]

Types of Mutual Funds include the followings except

Select one:

a. Open-end mutual funds

b. Closed-end mutual funds

c. Superannuation guarantee funds

d. Exchange-traded funds (ETFs)

e. Index funds

A company that reupholsters furniture in fabric and style selected by the owner of the piece of furniture is more than likely an example of a:

A. process manufacturer

B. job shop

C. closed shop

D. fixed-position layout

E. continuous production facility

The following information is extracted from several articles2 about oil market. An intensifying oil price war between Saudi Arabia and Russia has created “very painful” market conditions for the world’s largest crude oil producers. International benchmark Brent crude traded at $32.97 Thursday, down almost 8%, while U.S. West Texas Intermediate (WTI) stood at $30.40, around 7.8% lower. Oil prices have almost halved since the start of the year. Last week, Saudi Arabia failed to secure Moscow’s support for deeper output cuts at a meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC plus. OPEC had proposed to deepen cuts by 1.5 million barrels per day and Russia was asked to cut an extra 300,000 bpd. “There was no point in cutting until after everyone understood how sharply demand could fall. We cannot fight a falling demand situation when there is no clarity about where the bottom (of demand) is,” Pavel Sorokin, the Russia’s deputy energy minister, said. “It is very easy to get caught in a circle when, by cutting once, you get into an even worse situation: oil prices would shortly bounce back before falling again as demand continued to fall.” Cooperation between two (Saudi Arabia and Russia) of the world’s three largest oil producers — the third is the United States — appears to be at an end. 2How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy. 9th March 2020. New York Times Russia to OPEC - deeper oil cuts won't work. 12th March 2020. Reuter The losers — and even bigger losers — of an oil price war between Saudi Arabia and Russia. 12th March 2020. CNBC

a) With aid of diagram, explain how the fall in crude oil demand affect the output of OPEC plus members.

b) Discuss why Russia refuse to follow Saudi Arabia’s proposal to cut crude oil production with aid of diagram.