Based on economic theory, which statement is incorrect regarding the causes of pollution?
A. A pricing system failure
B. The public interest requires that pollution to be reduced below its market level.
C. A firm pollutes the air and water because it is not charged for their use.
D. The levels of pollution in former centrally planned economies are better maintained than in market economies.
Answer: D
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Poorly performing financial markets can be the cause of
A) wealth. B) poverty. C) financial stability. D) financial expansion.
The union participation rate in the United States is
a. highest among government employees b. highest among private sector workers c. highest in the smokestack industries d. highest in the service sector e. higher than in Sweden
A family's ability to buy goods and services depends largely on its
a. permanent income, which is its normal, or average, income. b. permanent income, which is the lowest annual income the family has received over a 10-year period. c. transitory income, which is the measure of income used by the government to analyze the distribution of income and the poverty rate. d. transitory income, which is its money income plus any in-kind transfers it receives.
The quantity demanded of a product increases as:
A. consumer income rises. B. the prices of other products fall. C. the price of the product rises. D. the price of the product falls.