The balance between efficiency and equality is an illustration of
a. scarcity
b. trade-offs.
c. the forces of supply and demand.
d. none of the above.
b
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Explain the difference between the "fair rules" and the "fair results" guidelines for competitive market fairness
What will be an ideal response?
Consider the monopsony in the above figure. The monopsony will hire ________ hours per week
A) 200 B) 400 C) 600 D) None of the above answers is correct.
Which of the following provides an example of command-and-control regulation? a. Taxing producers based on the external costs created by their pollution, thus internalizing external costs
b. Requiring firms to reduce their pollution by 50 percent, thus allowing them to emit 50 percent of their historical emissions, and allowing them to freely buy and sell allowances. c. Requiring firms to use a particular type of pollution-control technology, such as smokestack scrubbers or catalytic converters. d. Subsidizing firms that exceed their pollution-control targets.
Refer to the information above. Given this information, the steady state rate of growth of Y/NA is
A) 0. B) 2%. C) 3%. D) 5%. E) 16%.