In a closed economy, national saving
A) sometimes equals investment.
B) always equals investment.
C) is always less than investment.
D) is always more than investment.
E) is never equal to investment.
B
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Direct controls are generally much more costly than emissions taxes because
A. under direct controls emissions cutbacks are usually not apportioned among the firms on the basis of their ability to reduce pollution cheaply and efficiently. B. emissions tax per unit of output is higher than the per-unit direct control program cost. C. government cannot legally levy emissions taxes that are as high. D. firms disregard emissions taxes.
The existence of discouraged workers will lead to an official unemployment rate that is
A) overstated. B) understated. C) either overstated or understated. D) unbiased.
Explain why a price floor set below the equilibrium price is ineffective
What will be an ideal response?
Suppose a certain country imposes a tariff on a good. Which of the following results of the tariff is possible?
a. Consumer surplus decreases by $100; producer surplus increases by $100; and government revenue from the tariff amounts to $50. b. Consumer surplus decreases by $200; producer surplus increases by $100; and government revenue from the tariff amounts to $50. c. Consumer surplus increases by $100; producer surplus decreases by $200; and government revenue from the tariff amounts to $50. d. Consumer surplus decreases by $50; producer surplus increases by $200; and government revenue from the tariff amounts to $150.