The consumer price index is used to monitor changes in the cost of living over time.
Indicate whether the statement is true or false.
Answer: True.
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If quota rights accrue to foreigners, then the domestic economy is better off with a quota than with a tariff
Indicate whether the statement is true or false
If the producers' surplus is $50, and the consumers' surplus is $40, then what is the minimum selling price of the good?
A) $10 B) $40 C) $50 D) $90 E) There is not enough information to answer the question.
Answer the following statement(s) true (T) or false (F)
1. For the first time in U.S. history, the EPA has set GHG emissions standards for passenger cars and light-duty trucks for model years 2012 through 2016 and for medium- and heavy-duty vehicles for model years 2014 through 2018. 2. Under the new GHG emissions standards for mobile sources, light-duty vehicles will have to achieve an average emissions level of 250 grams of carbon dioxide (CO2) for model year 2016. 3. The two new national programs aimed at improving fuel efficiency and reducing GHG emissions are strictly command-and-control with no market-based initiatives. 4. Under the Clean Air Act, the emissions controls on mobile sources were set using benefit-cost analysis.
If the actual real wage exceeds the equilibrium wage, there will be an excess supply of labor
a. True b. False