The MCE function represents the
a. marginal cost of enforcement incurred by the government
b. marginal cost of the externality linked to environmental pollution
c. market cost of a given environmental policy initiative
d. extra cost of the engineering approach
a. marginal cost of enforcement incurred by the government
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Elasticity of demand equals the ratio of the percentage change in the quantity demanded to the percentage change in the price of the good.
Answer the following statement true (T) or false (F)
When the price level is rising at ______ and the real interest rate is 1 per-cent a year, the nominal interest rate is 3 percent a year
A. 4 percent a year B. 3 percent a year C. 2 percent a year D. 1 percent a year
The ability to lower the average costs of production for one product is possible with
a. Economies of scale b. Economies of Scope c. Diseconomies of Scale d. Diseconomies of Scope
According to one In the News article, "Defense Cuts Kill Jobs," a decrease in government spending has contributed to the sluggish economy. This would imply that
A. The aggregate supply curve has shifted to the right. B. Injections into the circular flow have increased. C. The aggregate demand curve has shifted to the right. D. The aggregate demand curve has shifted to the left.