Individual transferable quotas (ITQs) have been shown to
a. increase the value of fisheries but reduce the safety of fishers as the season is shortened.
b. end overfishing by making the use of efficient technology illegal.
c. increase the safety of fishing but not the value to consumers of the product.
d. increase the value to consumers of the product and raise the price received by fishers.
D
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What is Joseph Stiglitz' main criticism regarding intellectual property rights protection?
What will be an ideal response?
The outcome of the Stackelberg model is
A) a Nash equilibrium. B) the same as the Cournot outcome. C) that the follower earns zero profit. D) that the follower cannot be on its best-response curve.
Suppose the Federal Reserve announces that it will be making a change to a key interest rate to increase the money supply. This is likely because
a. the Federal Reserve is worried about inflation. b. the Federal Reserve is worried about unemployment. c. the Federal Reserve is hoping to reduce the demand for goods and services. d. the Federal Reserve is worried that the economy is growing too quickly.
A currency system in which governments try to keep the values of their currencies constant against another is called a ________ exchange rate system.
A. fixed B. stable C. consistent D. flexible