An effluent fee is an example of:
A. a market incentive policy.
B. a direct regulation of pollution.
C. a tax incentive policy.
D. a voluntary approach to pollution.
Answer: C
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What is the relationship between marginal revenue and total revenue?
A. Total revenue equals marginal revenue multiplied by quantity sold B. Total revenue equals marginal revenue minus total costs C. Total revenue equals marginal revenue plus the price of all products sold D. Total revenue equals marginal revenue plus fixed costs plus variable costs
Which of the following leads to a deadweight loss? i. overproduction ii. underproduction iii. taxes iv. monopoly
A) ii only B) iii and iv C) i and ii D) i, ii, iii, and iv E) i, ii, and iii
The demand for a service like medical care
a. decreases as income increases, indicating that medical care is an inferior good b. is completely insensitive to price; that is, demand is perfectly inelastic c. is perfectly elastic d. is sensitive to the time component of cost e. varies directly with the price of that care
Assume that the central bank lowers the discount to increase the nation's monetary base. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the reserve-related (central bank) transactions and monetary base in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium
a. The reserve-related (central bank) transactions become more positive (or less negative) and monetary base rises. b. The reserve-related (central bank) transactions become more negative (or less positive) and monetary base falls. c. The reserve-related (central bank) transactions become more positive (or less negative) and monetary base remains the same. d. The reserve-related (central bank) transactions and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.