Command-and-control policies usually:
A. reduce the production of a polluting good more than do pollution taxes.
B. reduce the production of a polluting good less than do pollution taxes.
C. increase price less than do pollution taxes.
D. decrease the quantity demanded by less than do pollution taxes.
Answer: B
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a. entrepreneurship b. human capital c. labor d. more difficult and deserving of a higher reward than the work of labor e. essentially to assume risk and uncertainty
The consumption effect of a tariff indicates the welfare loss to a country resulting from the domestic consumers shifting from cheaper imports to more expensive local goods.
Answer the following statement true (T) or false (F)
Curly just graduated from State U and has three job offers: teaching at a prestigious private high school nine months a year with summers off, working forty hours a week at a bank in a small city, and working more than sixty hours a week for a high-powered investment firm in New York. Suppose all of the jobs currently offer exactly the same annual salary, and that most people prefer leisure to work, all else equal. In order to attract workers, the ________ would have to offer a ________ salary than the others.
A. high school; lower B. bank; higher C. investment firm; higher D. investment firm; lower
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What will be an ideal response?