The founders of utilitarianism include
a. A. C. Pigou and John Maynard Keynes.
b. Jeremy Bentham and John Stuart Mill.
c. Augustin Cournot and Jean B. Say.
d. A. Kondratieff and Thomas Malthus.
b
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Answer the following statement(s) true (T) or false (F)
1. The Maximum Contaminant Level (MCL) is to be set as close to the Maximum Contaminant Level Goal (MCLG) as possible. 2. An established reference dose (RfD) is defined as the amount of a contaminant to which people can be exposed over a 24-hour period without harm. 3. U.S. primary drinking water regulations are performance-based standards. 4. Secondary maximum contaminant levels (SMCLs) are enforceable drinking water standards that are set to protect public welfare. 5. A drinking water standard based on benefit-cost analysis would be set at the point where the TSB is maximized.
The purpose of the World Trade Organization (WTO) is to
A. Protect workers from foreign competition. B. Protect producers from foreign competition. C. Ensure that there are no losers as a result of free trade. D. Enforce the rules of free trade.
A price floor is:
A. a legal minimum quantity that can be sold at a particular price. B. a legal maximum quantity that can be sold at a particular price. C. a legal minimum price. D. a legal maximum price.
Suppose that the exchange rate between the dollar and the peso changed from 6 pesos per dollar to 8 pesos per dollar. This change means that the
A) peso appreciated. B) dollar depreciated. C) peso depreciated. D) Both answers A and B are correct.