Which of the following is TRUE of the cap-and-trade program in the United States?
A) The state of California began a cap-and-trade program in 2013.
B) The United States is a participant of the Kyoto Protocol that implemented the cap-and-trade program in 2005.
C) All states in the U.S. have implemented a cap-and-trade program before the Kyoto Protocol in 2005.
D) The state of Texas is currently the only state in the U.S. that has not implemented a cap-and-trade program.
Answer: A
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The demand curve facing the monopolist is
A) the same as the market demand curve. B) more elastic than the market demand curve. C) less elastic than the market demand curve. D) upward sloping.
The slope of a curved line can be approximated by
A) the average of the variable measured along the y-axis divided by the average of the variable measured along the x-axis. B) the inverse of the straight-line method. C) the average of the variable measured along the x-axis divided by the average of the variable measured along the y-axis. D) the slope across an arc from one point on the curve to another point on the curve.
Refer to Figure 4.3. All else equal, an increase in net exports accompanied by a decrease in expected future profits would cause which of the following shifts?
A) S1 to S2 and D1 to D2 B) S2 to S1 and D1 to D2 C) S1 to S2 and D2 to D1 D) S2 to S1 and D2 to D1
Points below the production possibilities frontier are inefficient because it is possible to make someone better off without making anyone else worse off.
Answer the following statement true (T) or false (F)