Special interest legislation generally leads to an increase in social welfare
a. True
b. False
B
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Assume the United States televison manufacturing industry accuses the Japanese television manufacturers of dumping. Why should consumers not necessarily be worried about this practice?
What will be an ideal response?
Free trade can promote greater output because of the principle of comparative advantage
a. True b. False Indicate whether the statement is true or false
The quarterly increase in an employee's salary depends on the rating of his work by his employer and several other factors as shown in the model below:
Increase in salary= 
0+
0?Rating + other factors. The variable ‘Rating' is a(n) _____.
A. dependent variable B. ordinal variable C. continuous variable D. Poisson variable
Which of the following statements about pollution or pollution control is TRUE?
A. The optimum amount of pollution abatement is where the total benefits of pollution abatement equal the total costs of pollution abatement. B. Private costs of pollution usually exceed social costs. C. A tax to reduce pollution levels should be based on the economic damages rather than on the absolute amount of pollution. D. A nationwide uniform tax on emissions is the appropriate way to reduce pollution levels.