New Source Performance Standards (NSPS)
a. were revoked by the Clean Air Act Amendments of 1990
b. are applicable to new and modified stationary sources
c. are performance-based standards defined by the EPA
d. are more lenient than emissions limits for existing sources
e. none of the above
b. are applicable to new and modified stationary sources
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Which of the following statements is true?
A) Arithmetic or geometric growth rates gives similar answers for long periods. B) Using either arithmetic or geometric average to compute average growth rates gives similar answers for short periods. C) Geometric average of growth rate ignores the exponential nature of growth. D) Arithmetic calculation of growth rate considers the exponential nature of growth.
We expect the marginal utility curve to be downward sloping
Indicate whether the statement is true or false
Which of the following statements about the consumers' responses to rising gasoline prices is correct?
a. About 10 percent of the long-run reduction in quantity demanded arises because people drive less and about 90 percent arises because they switch to more fuel-efficient cars. b. About 90 percent of the long-run reduction in quantity demanded arises because people drive less and about 10 percent arises because they switch to more fuel-efficient cars. c. About half of the long-run reduction in quantity demanded arises because people drive less and about half arises because they switch to more fuel-efficient cars. d. Because gasoline is a necessity, consumers do not decrease their quantity demanded in either the short run or the long run.
If one fails to account for implicit costs in decision making, then applying the cost-benefit rule will be flawed because:
A. the benefits will be overstated. B. the benefits will be understated. C. the costs will be overstated. D. the costs will be understated.