Assume that the government can reduce car pollution using either a corrective tax or a regulatory scheme, both of which will achieve the same results in the short-run
In the long run, however, the regulatory scheme will be more efficient because it provides incentives to avoid the regulation altogether. a. True b. False
b
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One way to overcome the problem of the commons is to
A) assign property rights so that someone owns the resource. B) take away property rights so that no one owns the resource. C) leave the market alone because the market will reach an equilibrium in which the efficient amount of the resource is used. D) None of the above answers is correct.
A larger controversy of the financial crisis among both members of Congress and the general public had to do with the Fed's expanded role in the economy
a. True b. False
Which of the following is true about the equilibrium market wage for a particular industry?
a) There is no unemployment in this industry at this wage. b) There is a surplus of workers in this industry since the wage is high. c) All workers in this industry are satisfied with the wage. d) All employers in this industry are satisfied with the wage.
The two fundamental sections of the Balance of Payments accounting system are
A. aggregate consumption and government spending. B. physical investment and ephemeral investment. C. the current account and the capital account. D. the physical and monetary direct transfers among individuals.