If the government attempts to control pollution with a command-and-control policy:
A. the government will command each firm to produce no more than a certain level of pollution.
B. the government will control the firm's entire production process.
C. the government will force the firm to use particular pollution-control technologies.
D. All of these
Answer: D
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A concentration ratio is the ratio of
a. market share to the number of firms in an industry b. total sales to the number of firms in an industry c. large firms to small firms in an industry d. total sales of the leading firms to total sales in the industry e. total profits of the leading firms to total profits in the industry
At levels of output close to full employment, the aggregate supply curve is probably
a. very flat. b. very steep. c. sloped downward. d. perfectly elastic.
Table 14.3Table 14.3 represents 3 markets for used stereos. Which of the markets in Table 14.3 are in equilibrium?
A. 1 only B. 2 only C. 3 only D. None of these
Based on our understanding of the labor market model presented in Chapter 6, we know that a reduction in the markup will cause
A) an increase in the equilibrium real wage. B) a reduction in the equilibrium real wage. C) an increase in the natural rate of unemployment. D) a reduction in the natural rate of unemployment and no change in the real wage.