If government undertakes to reduce water usage by using a market incentive plan:
A. consumers will be asked to reduce water usage voluntarily.
B. consumers who reduce water usage by more than the required amount can sell marketable certificates to consumers who seek to reduce usage by less than the required amount.
C. each consumer will have to reduce his or her water usage by an equal amount.
D. consumers who do not reduce usage by the required amount will have to pay taxes on the extra water usage.
Answer: B
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Microeconomics is best described as the study of
A) the choices made by individual households, firms, and governments. B) marginal changes in the economy. C) inflation, unemployment, gross national product, and the nation's economy as a whole. D) how markets interact in the aggregate economy.
If a country has a lower opportunity cost than its potential trading partner, the country should decide to be self-sufficient
a. True b. False Indicate whether the statement is true or false
Given the following data, what is the distance from the origin to the point where the total expenditures (TE) curve cuts the vertical axis? ? C = $4,200 + 0.90Yd I = $1,820 G = $970
a. $2,790 b. $4,290 c. $6,990 d. $5,170 e. $390
Explain how banks create loans and how this process is impacted by the reserve requirement and excess reserves. Then, create a scenario that demonstrates how banks create money when they issue loans, being sure to include an initial deposit amount, a reserve requirement ratio, an excess reserve amount, and how much money can be created from a single transaction.
What will be an ideal response?