Feature(s) of the Asian model
a. high rate of capital formation
b. open economy
c. export orientation
d. high domestic saving
e. all of the above
E
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The labor force participation rate is
a. the portion of the working-age population that is actively in the labor market b. the portion of the labor force that is employed c. the portion of the working-age population that is working d. the portion of the working-age population that would work if jobs were available e. none of the above
Supply-side policy is based on the assumption that people's economic behavior is not affected by taxes
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. The Clean Air Interstate Rule (CAIR) included an annual SO2 trading program. 2. NOX contributes both to acid rain and to the formation of ground-level ozone. 3. Because NOX readily moves across state borders, a series of interstate collaborations formedover time to address the problem, but none established a trading program. 4. Two new NOX cap-and-trade programs were launched under the Clean Air Interstate Rule (CAIR). 5. RECLAIM is a California trading program that used trading credits in a regional market for sulfur oxide and nitrogen oxide.
A higher price reduces the quantity demanded for a product because:
A. The purchasing power of individuals increases B. The financial assets of individuals increase C. Individuals will buy more of the product and less of its substitutes D. Individuals can afford less of the product and will switch to substitutes