The division of labor benefits society only if
a. a system of exchange exists.
b. society uses all of its resources efficiently.
c. society has no specialized resources.
d. labor resources are not scarce.
a
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What is the rationale behind a marketable emission allowance scheme?
A) to discipline polluting firms by specifying the maximum amount of emissions allowed and giving them permits to pollute up to their allowance B) to provide firms with the incentive to consider less costly alternatives to pollution reduction by making firms pay for the right to pollute beyond their specified allowance C) to raise revenue for the government through the sale of emission permits and at the same time set an emissions target D) to create a market for externalities: the scheme brings together buyers and sellers of marketable permits
How does an increase in government spending affect the aggregate expenditure line?
A) It shifts the aggregate expenditure line upward. B) It increases the slope of the aggregate expenditure line. C) It shifts the aggregate expenditure line downward. D) It decreases the slope of the aggregate expenditure line.
In the context of hostile corporate takeovers, a white knight is a
a. hostile firm that wishes to take over another b. bank that lends a troubled firm money c. friendly corporation that acquires the threatened firm d. government law that prevents the hostile takeover e. strategy to make the firm less desirable by acquiring debt
Suppose Max values a concert ticket at $45 . Charles values the same concert ticket at $40 . The pre-tax price of a concert ticket is $30 . The government imposes a tax of $5 on each concert ticket, and the price rises to $35 . The deadweight loss from the tax is
a. $15. b. $10. c. $5. d. $0.