Tax revenues are an advantage of ________, which are not offered by command-and-control policies.
A. pollution allowances
B. tradeable pollution permits
C. pollution taxes
D. pollution tax credits
Answer: C
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Refer to the figure above. A change in the budget constraint from B1 to B2 indicates:
A) an increase in the price of sweaters. B) a decrease in the price of sweaters. C) an increase in the consumer's income. D) a decrease in the consumer's income.
One of the primary objections to the new classical model is that ________
A) firms could easily get information about price movements and so would not be fooled for very long B) price is negatively related to quantity demanded, but positively related to quantity supplied C) business cycles are relatively brief in duration D) it failed to incorporate rational expectations into its presentation
According to the law of supply, when the price of a good increases we would predict that: a. less will be produced
b. less will be consumed. c. more will be produced. d. more will be consumed.
The price elasticity of demand for tickets to local hockey matches is estimated to be equal to 0.89 . In order to boost ticket revenues, an economist would advise:
a. decreasing the price of hockey match tickets because demand is elastic b. increasing the price of hockey match tickets because demand is elastic. c. not changing the price of hockey match tickets because demand is unit elastic. d. increasing the price of hockey match tickets because demand is inelastic.