Which policy is likely to be the most efficient in dealing with automobile emission pollution?
A. Subsidizing research and development for alternative forms of transportation
B. Voluntary emission control guidelines
C. A mandatory requirement to reduce pollution
D. An emission tax
Answer: D
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The difference(s) between NAFTA and the EEC is (are)
a. that the EEC is a free trade area while NAFTA is a customs union b. that NAFTA is a free trade area while the EEC is a customs union c. that both NAFTA and EEC are custom unions, but the EEC is in Europe while NAFTA is in North America d. that both NAFTA and EEC are free trade areas, but the EEC is in Europe while NAFTA is in North America e. that NAFTA countries place no tariffs on trade while the EEC countries do
The figure above shows a production possibilities frontier. In the figure, which of the following combinations of the two goods cannot be produced with the current resources and technology?
A) 5 million cell phones and no DVDs B) 1 million cell phones and 14 million DVDs C) 4 million cell phones and 4 million DVDs D) 3 million cell phones and 5 million DVDs E) 2 million cell phones and 13 million DVDs
The Gini coefficient is measured by
A) summing up the total income earned by the population and dividing by the size of the population. B) summing up the cumulative income percentages on the Lorenz curve. C) using the formula: area between the line of perfect equality and the Lorenz curve ÷ the area under the line of perfect equality. D) using the formula: area between perfect inequality and Lorenz curve ÷ area between the line of perfect equality to the Lorenz curve.
In the above figure, the Nash product is
A) 20. B) 40. C) 100. D) 400.