Which of the following observations concerning pollution rights is incorrect?
a. It would not allow firms to move into an area that is already as polluted as allowed by EPA standards.
b. It allows the greatest value to be generated with a given amount of pollution
c. The rights are private property and can be sold.
d. Each polluter is motivated to discover and use the cheapest way to reduce pollution.
a
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The simple circular flow model shows that workers and capital-owners offer their services to firms through the
A. product markets. B. government agencies. C. employment agencies. D. resource markets.
Explain why government subsidies are not always successful in promoting alternative energy
What will be an ideal response?
If, at a low cost, you cannot prevent a person from benefiting from the consumption of a good you produced, the good is
A. nonexcludable. B. nonrival in consumption. C. excludable. D. rival in consumption.
Movements away from equilibrium in the Solow model:
A) persist and cannot be corrected. B) are corrected only through government intervention. C) are automatically corrected. D) are corrected only when the country opens up to international trade.