Which of the following is a disadvantage of the command-and-control approach to the problem of pollution?
A) It creates licenses to pollute.
B) It is undemocratic.
C) It only works in societies where everyone (or almost everyone) has a high degree of environmental consciousness.
D) It usually overlooks less costly ways to achieve given goals.
E) It violates property rights.
D
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Aggregate demand and supply curves have been widely used to analyze the performance of the macroeconomy. Figure 5-3 shows four diagrams that represent different changes in the macroeconomy. Choose the diagram that best represents the situations described in the following questions.Figure 5-3
Which graph in Figure 5-3 best represents the economic conditions of the American economy in 2001?
A. 1 B. 2 C. 3 D. 4
Suppose the Fed is targeting real GDP. If the interest rate is below its forecast and the Fed is convinced that this is due to commodity demand instability, it will ________ the money supply, which turns out to be exactly the wrong thing to do if the
low interest rate is in fact due to ________ money demand. A) raise, high B) raise, low C) lower, high D) lower, low
If a disequilibrium occurs in the foreign exchange market, what are possible solutions? Why might governments choose not to let the price of their currencies adjust to clear the market?
The ________ exchange rate is the market rate between two currencies.
A. nominal bilateral B. real bilateral C. real effective D. nominal effective