If a government regulation states that fluorocarbon emissions should be abated by 75 percent but the optimal level of pollution abatement is 85 percent, which of the following must be true?
a. The free market will not reduce pollution by less than 85 percent.
b. The free market will accomplish 85 percent abatement, but it will be inefficient.
c. If only 75 percent of the pollution is abated, the society will be better off than if 85 percent had been abated.
d. If only 75 percent of the pollution is abated, the society will be worse off than if 85 percent had been abated.
e. If 75 percent of the pollution is abated, then in the next period the government should set the abatement level at 95 percent.
D
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Critics argue that a disadvantage of the Earned Income Tax Credit is that it does not effectively target the working poor because many recipients are the teenage children of middle-income families
a. True b. False Indicate whether the statement is true or false
Other things equal, a decrease in autonomous consumption shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
The term "dollar votes" means:
A. inflation will occur if consumers do not spend wisely. B. government is responsible for determining what will be considered legal money. C. voters may be offered dollars to help elect certain political candidates. D. consumers "vote" for certain products to be produced by how they spend their incomes.
Consider the following weekly production possibilities of gloves and hats in Panama and Russia:?RussiaPanamaGloves20180Hats80 90What is the possible range of terms of trade between Panama and Russia?
What will be an ideal response?