Superfund relies in part on strict liability, which means that
a. an individual can be held liable even if negligence is not proven
b. only current waste site owners are liable for damages
c. polluters can be held liable for damages but not waste site owners
d. a single party can be held liable for all damages even if their contribution to damages is minimal
a. an individual can be held liable even if negligence is not proven
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Which adjustment(s) must be made to convert net domestic product to GDP? i. add indirect taxes ii. subtract subsidies iii. add depreciation
A) i and iii only B) i, ii and iii C) ii only D) iii only E) i and ii
When what people pay does not necessarily reflect the real value they put on a good, it is likely that the:
A. good is nonrivalrous. B. good is easily excludable. C. free rider problem exists. D. good will be oversupplied.
A tariff is a tax on ____ goods that is designed to ____.
A. exported; protect domestic industries B. exported; hurt foreign industries C. imported; made domestic consumers pay more D. imported; protect domestic industries
Any combination of goods lying outside of the budget line:
A. implies that the consumer is not spending all his income. B. yields less utility than any point on the budget line. C. yields less utility than any point inside the budget line. D. is unattainable, given the consumer's income.