Answer the following questions true (T) or false (F)
1. Issuing tradable emission allowances to polluting firms will result in those firms polluting more than is socially desirable.
2. A perfectly competitive firm's horizontal demand curve implies that the firm does not have to lower its price to sell more output.
3. The market demand curve for a perfectly competitive industry is the horizontal summation of each individual firm's demand curve.
1. FALSE
2. TRUE
3. FALSE
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Jobs that pay higher salaries must be riskier than lower-paying professions
a. True b. False
If the Fed adopts a contractionary monetary policy, eventually we can expect: a. aggregate demand to increase
b. short-run aggregate supply to decrease. c. interest rates to decrease. d. planned investment expenditures to decrease. e. real Gross Domestic Product to increase.
The city of London imposes congestion fees on cars and trucks that drive in central London. The charge is higher Monday through Friday than on weekends. This example of
A. peak pricing. B. positive externalities. C. profit maximizing. D. British socialism.
Patent protection in the United States is granted for 20 years from the date the patent application was filed.
Answer the following statement true (T) or false (F)