The objective of creating a permit trading system for SO2 (sulfur dioxide) is to
A) employ environmental protection agency (EPA) workers.
B) create a market in which one did not previously exist.
C) make annual company tax reporting more difficult.
D) increase the incidence of acid rain.
B
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Tom is buying a quantity of wheat at which the marginal utility (in dollars) exceeds price. He should
A. reduce wheat consumption, thus raising P to the level at which MU = P. B. reduce wheat consumption, thus raising MU to the level at which MU = P. C. increase wheat consumption, thus raising P to the level at which MU = P. D. increase wheat consumption, thus lowering MU to the level at which MU = P.
Suppose the official gold value of the Brazilian real changes from 527 reals per ounce to 508 reals per ounce. We can then say that:
a. the Brazilian real has depreciated in value as a consequence of free market fluctuations. b. the Brazilian real has appreciated in value. c. gold is now more expensive to purchase in Brazil than it was before. d. the Brazilian real has been devalued. e. the Brazilian economy is expected to experience rapid inflation.
Many economists argue that there is imperfect information in the market and that this is a failure of the market mechanism
a. True b. False Indicate whether the statement is true or false
In 2012, the number of people living in the world on less than $1.90 a day was:
A. just over a quarter of the world's population. B. roughly 13% of the world's population. C. just under 10 percent of the world's population. D. just over a fifth of the world's population.