Prof. Epstein's normative theory of law argues that the common law ought to
a. promote a more desirable distribution of income.
b. impose punitive damages more often.
c. seek economic efficiency.
d. promote the Good Samaritan ethic.
c. seek economic efficiency.
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Critically evaluate the following statement. "Only poor nations face scarcity. Rich nations have everything they need and have therefore conquered scarcity."
What will be an ideal response?
The concept of "rational expectations" is consistent with the notion of
a. utility maximization. b. profit maximization. c. strong mechanisms towards equilibrium in markets d. auction markets. e. all of the above.
Compared to a pollution? tax, a? uniform-abatement policy is less efficient because it does not exploit differences in??
Compared to a pollution? tax, a? uniform-abatement policy is
less
efficient because it does not exploit differences in??
A.
output levels across firms.
B.
the level of environmental concern across firms.
C.
abatement costs across firms.
Your answer is correct.
D.
all of the above.
An example of countercyclical fiscal policy is:
A. raising government spending when the economy is above potential. B. reducing government spending when the economy is below potential. C. raising government spending when the economy is at potential. D. reducing government spending when the economy is above potential.