Incentive-based regulatory approaches:
a. are viewed favorably by most economists as a way to control pollution.
b. provide less flexibility than the command-and-control approach.
c. tend to hurt wealthier people more than poor people.
d. require that the government specify certain types of pollution control technology that firms must adopt.
a
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During the recession of 2007-2009, the U.S. economy was experiencing a decrease in home prices and consumer wealth, a credit crisis in the financial markets, and declining consumer and business confidence
What components of aggregate demand were affected and what was the impact on real output? What were the policy options?
When it is cheaper for one firm to produce a number of different commodities together than it is for a group of small firms to produce those commodities, ____ exist(s).
A. economies of scale B. economies of scope C. diminishing marginal returns D. marginal cost pricing
Which of the following is not one of the functions of the Federal Reserve?
a. Clearing checks. b. Printing currency. c. Supervising and regulating banks. d. Controlling the money supply.
If Fred's annual real income rises by 8 percent each year, his annual real income will double in about:
A. 8-9 years. B. 10-11 years. C. 5-6 years. D. 19-20 years.