The study of the aggregate economic variables is
A) macroeconomics.
B) microeconomics.
C) positive economics.
D) normative economics.
Answer: A
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Pollution abatement is likely to be most costly under: a. a compliance standard
b. a per-unit pollution tax system. c. a system of transferable pollution rights. d. Costs are the same under all three pollution control policies.
Assuming that pollution cannot be removed from the environment at zero cost, the optimal level of pollution
A. will be zero. B. will be greater than zero. C. will be negative. D. cannot be determined.
Refer to the information provided in Figure 6.11 below to answer the question that follows.
Figure 6.11Refer to Figure 6.11. The opportunity cost for a day's worth of income is ________ of leisure.
A. 1 hour B. 10 hours C. 24 hours D. indeterminate from this information.
Refer to the scenario above. If this game is repeated several times, Beth will ________ and Charles will ________
A) not trust; defect B) trust; defect C) trust; cooperate D) not trust; cooperate