Because in any period of time and in any region the quantity of pollutants that can be absorbed by nature is fixed, the supply of pollutant rights will be perfectly elastic.
Answer the following statement true (T) or false (F)
False
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What is a market failure?
A) It refers to the inability of the market to allocate resources efficiently up to the point where marginal social benefit equals marginal private cost. B) It refers to a breakdown in a market economy because of widespread corruption in government. C) It refers to the inability of the market to allocate resources efficiently up to the point where marginal social benefit equals marginal social cost. D) It refers to a situation where an entire sector of the economy (for example, the airline industry) collapses because of some unforeseen event.
If the marginal propensity to consume (MPC) is 0.80, and if policy makers wish to increase real GDP $200 billion, then by how much would they have to change taxes?
A. ?$240 million. B. ?$200 million. C. ?$180 million. D. ?$50 million.
Explicit provisions in a loan agreement that prohibit the borrower from engaging in certain activities is called:
A) credit rationing B) restrictive covenants C) credit-risk analysis D) adverse selection
Baseballs and baseball bats are substitute goods
a. True b. False Indicate whether the statement is true or false