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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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
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